Key Points
- Spot Bitcoin ETFs experienced significant outflows of $438.4 million on Monday, breaking a five-day streak that had brought in $3.4 billion in net inflows
- Bitcoin price retreated from its near $100,000 high to $94,500, marking a 3.55% decline in 24 hours
ETF Flow Analysis
Data from SoSoValue indicates that Monday marked a turning point for spot Bitcoin ETFs as they recorded their first major outflow after a remarkable streak of positive flows. Seven out of the twelve Bitcoin ETFs posted negative flows, with Bitwise’s BITB leading the decline with $280 million in outflows. Notably, BlackRock’s IBIT maintained its strong position, securing $267.8 million in net inflows, while Grayscale’s Mini Bitcoin Trust added modest inflows of $420,460.
Market Impact and Trading Volumes
Despite the outflows, trading activity remained robust with the twelve Bitcoin ETFs recording a combined trading volume of $5.6 billion on Monday, slightly higher than Friday’s $5.4 billion. The funds maintain a substantial presence in the crypto market, with total net assets of $102.2 billion, representing approximately 5.4% of Bitcoin’s total market capitalization. The cumulative net inflow across all funds stands at $30.4 billion.
Ethereum ETF Performance
In contrast to Bitcoin ETFs, Ethereum ETFs showed resilience with modest inflows of $2.8 million on Monday. Trading volume for the nine Ethereum funds nearly doubled from Friday’s $373.9 million to $711.2 million. Bitwise, Fidelity, and VanEck’s funds led the positive flows, while 21Shares and Grayscale’s offerings experienced outflows. The total cumulative flow for Ethereum ETFs reached $109 million.
