The recent trend in Spot bitcoin ETFs has turned, with a substantial outflow of $131.35 million recorded on Monday, effectively halting a remarkable 12-day inflow streak that had accumulated $6.6 billion. The largest contributor to this outflow was ARK Invest’s ARKB, which experienced a single-day drop of $77.46 million.
Grayscale’s GBTC followed closely behind with $36.75 million in outflows, while Fidelity’s FBTC noted a loss of $12.75 million. Additional outflows were observed from Bitwise’s BITB and VanEck’s HODL, which recorded moderate declines of $1.91 million and $2.48 million, respectively.
Despite these short-term withdrawals, the cumulative net inflows for Spot bitcoin ETFs remain robust at $54.62 billion, contributing to total net assets across all Spot bitcoin ETFs standing at $151.60 billion, which equates to 6.52% of bitcoin’s total capitalization. This data underlines the resilient nature of the even amidst profit-taking activities.
Vincent Liu, chief investment officer at Kronos Research, indicated that the recent ETF outflows are symptomatic of profit-taking near the highs rather than a sign of fear among large holders. "The recent ETF outflows reflect profit-taking near the highs and measured institutional rebalancing to lock in gains," he stated. This reflects a natural pause following significant price increases rather than panic selling.
Earlier in July, bitcoin ETFs saw record-setting inflows, with July 10 and 11 marking historic days when over a billion dollars flowed into these funds consecutively for the first time ever. Such inflows underscore institutional confidence and commitment to bitcoin even during fluctuations.
On another note, Spot Ether (ETH) ETFs continued their successful run with an impressive $296.59 million in net inflows on Monday, bringing their cumulative total to $7.78 billion amid rising investor interest in ethereum products. This surge highlights the growing appeal of Ether as part of broader trends in cryptocurrency investment strategies as investors seek diverse opportunities within the crypto landscape.
