Spot Bitcoin ETFs Record First Outflow in 12 Days
In almost two weeks, spot Bitcoin exchange-traded funds (ETFs) faced their first net outflow, ending an unprecedented run of inflows over the past 12 days, which saw $6.6 billion raised in new capital. Data from SoSoValue shows that Bitcoin ETFs saw an outflow of $131.35 million on Monday as many investors took profit near record prices.
The biggest chunk of the outflow came from ARK Invest’s ARKB, which saw $77.46 million pulled in one day. The GBTC of Grayscale and FBTC of Fidelity followed with an outflow of $36.75 million and $12.75 million, respectively. BITB and HODL also saw some outflows. BlackRock’s IBIT, the biggest spot Bitcoin ETF with $86.16 billion in net assets, did not change after seeing no inflows or outflows.
Spot Bitcoin ETFs have seen net inflows—$54.62 billion overall even though the pause was temporary—and the total net assets under management stand at $151.60 billion, accounting for more than 6.5% of Bitcoin’s market capitalization.
A Healthy Pullback, Not a Panic Move
As Vincent Liu, Chief Investment Officer at Kronos Research, stated, the recent outflows are part of the asset rebalancing. Liu: “We’re not panic selling.” “It’s a natural breather after a strong rally—investors are locking in profits and altering their portfolios.”
Liu notes that the price drop comes after a massive influx, especially on July 10 and 11, when a total of $2.21 billion poured in, the first time that Bitcoin ETFs saw 2 billion-dollar inflows in a row. As Bitcoin trades slightly above $118,000, after marking a fresh all-time high of $123,100, some profit-taking seems likely.
Ethereum ETFs Keep Up the Momentum
While Bitcoin ETFs slowed down, Ethereum-based ETFs picked up steam. On Monday alone, Ether spot ETFs saw $296.59 million in net inflows, thus taking their total to $7.78 billion. Ethereum ETFs have witnessed inflows for the 12th day in a row, showing the interest of investors in digital assets.
Last week, Ethereum ETFs saw their largest inflow on record. $726.74 million was brought in Wednesday. $602.02 million came in Thursday. It appears institutions are diversifying away from just Bitcoin.
What’s Next for Bitcoin and Crypto Markets?
Bitcoin is trading between $115,000 and $120,000. It appears to be consolidating after the steep run-up. The cryptocurrency is seeing support levels hold well, which has analysts betting on continued interest from buyers.
Positive demand is coming from institutions, and growing regulatory clarity is a positive sign for our industry. The passage of the GENIUS Act and strong ETF inflows and excellent altcoin performances suggest confidence is becoming more decentralized.
Conclusion
After having inflows for 12 days, the latest Bitcoin ETF data paints a contrasting picture. Even as Bitcoin holds near record highs and Ethereum ETFs garner attention, there appears to still be institutional demand for Bitcoin. As rules become clearer and there are more different ETF offers, the crypto markets are suited for ongoing long-term growth.
