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After a strong run of seven consecutive trading days of inflows, U.S. spot Bitcoin ETFs saw net outflows of $79 million on Tuesday, marking a shift back to negative daily flows. This comes after these ETFs had collectively attracted over $2.6 billion in net inflows during the previous week, driven by the recent Bitcoin rally, which saw the cryptocurrency peak above $69,400 on Monday.
The outflows were mainly driven by Ark and 21Shares’ ARKB, which saw $134.74 million leave the fund. Despite this, other prominent ETFs like BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, saw inflows of $42.98 million, and Fidelity’s FBTC added $8.85 million. VanEck’s HODL also had a smaller inflow of $3.82 million, while eight other funds, including Grayscale’s GBTC, posted zero flows for the day.
The total daily trading volume for the 12 spot Bitcoin ETFs dropped to $1.4 billion, down from $1.76 billion the day before, signaling a slight cooling in market activity. Despite the outflows, these ETFs still maintained cumulative net inflows of $21.15 billion as of Tuesday.
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Meanwhile, spot Ether ETFs saw modest inflows of $11.94 million on Tuesday, entirely contributed by BlackRock’s ETHA. Despite the positive day, Ether has seen cumulative net outflows of $488.85 million since the funds launched.
Both Bitcoin and Ether experienced slight declines over the past 24 hours, with Bitcoin dropping 0.38% to $67,038 and Ether falling 0.99% to $2,611.
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