U.S. spot Bitcoin ETFs end record inflow streak

The record 19-day inflow streak concluded last Friday, amassing more than $4 billion in net inflows

11 U.S. spot Bitcoin ETFs recorded a net outflow of $64.93 million on Monday. This marked the end of a historic 19-day inflow that had seen consistent daily investments.

Grayscale’s GBTC led the outflows this week, with investors pulling out $40 million. This trend was echoed across other funds: Invesco and Galaxy Digital’s BTCO saw net outflows of $20 million, while Valkyrie’s bitcoin ETF reported $16 million in redemptions. Fidelity’s FBTC, which had enjoyed positive flows since May 2, experienced $3 million in net outflows.

Despite the general trend, not all funds saw redemptions. BlackRock’s IBIT, the biggest spot bitcoin exchange-traded fund in terms of net assets, logged net inflows of $6 million. Similarly, Bitwise’s BITB saw $8 million in new investments, suggesting some continued confidence in the market.

The record 19-day inflow streak concluded last Friday, amassing more than $4 billion in net inflows. Since their launch in January, the 11 spot bitcoin exchange-traded funds have collectively attracted $15.62 billion in net investments.

The recent outflows come amid a decline in Bitcoin’s price, which dropped after the release of conflicting U.S. non-farm payroll and unemployment data. The mixed economic signals have created uncertainty, prompting investors to move away from riskier assets, as noted by crypto trading firm QCP Capital. The CME Group predicts a 99.4% chance that the Fed will maintain the current interest rate of 5.25% to 5.50%.

While the Bitcoin exchange-traded funds have garnered significant attention, U.S. spot Ethereum ETF issuers are also awaiting feedback from the SEC on their S-1 registration statements, which were submitted at the end of last month. Approval of these forms is necessary for the official launch of spot ether ETFs.