Key Points
- U.S. spot Bitcoin ETFs recorded $79 million in net outflows on Tuesday, breaking a seven-day streak that had accumulated over $2.6 billion in inflows
- BlackRock’s IBIT continues to show strength with $43 million in inflows, while ARKB experiences significant outflows of $135 million
Bitcoin ETF Market Dynamics
The landscape of U.S. spot Bitcoin ETFs experienced a notable shift on Tuesday as the market recorded its first negative flow day following a robust seven-day streak of inflows. According to SoSoValue, the total net outflow of $79.09 million was primarily driven by Ark and 21Shares’ ARKB fund, which saw $134.74 million exit the fund. Despite the overall negative trend, industry leader BlackRock’s IBIT maintained positive momentum with $42.98 million in net inflows.
The day’s trading activity marked a significant departure from the previous week’s performance, where the ETFs had collectively attracted over $2.67 billion in investments. Trading volume also showed signs of cooling, dropping to $1.4 billion from Monday’s $1.76 billion. The cumulative net inflows for the 12 spot Bitcoin ETFs now stand at $21.15 billion.
Ethereum ETF Performance and Market Context
In contrast to the Bitcoin ETF market, spot Ethereum ETFs demonstrated resilience with modest positive flows. Led exclusively by BlackRock’s ETHA, the Ethereum ETF segment recorded $11.94 million in net inflows on Tuesday. However, trading volume decreased from $163.18 million on Monday to $118.4 million. Since their inception, Ethereum ETFs maintain a cumulative net outflow position of $488.85 million.
The market movements coincide with recent cryptocurrency price action, as Bitcoin had reached above $69,400 on Monday, suggesting a correlation between ETF flows and underlying asset performance. Among other notable performers, Fidelity’s FBTC and VanEck’s HODL maintained positive flows with $8.85 million and $3.82 million in net inflows respectively, while Grayscale’s GBTC and eight other funds reported no movement for the day.
