• U.S. Bitcoin spot ETF market sees fourth consecutive day of outflows, totaling $52 million.

  • Bitwise, Franklin, and Valkyrie defy the trend with positive inflows amid ETF exodus.

  • Bitcoin’s continued price decline has influenced investors’ cautious approach to investing.

The U.S. Bitcoin spot exchange-traded fund (ETF) market has recorded the fourth consecutive day of negative inflow. Publicly available records have shown that on Monday, April 29, U.S. Bitcoin spot ETFs registered an outflow of approximately $52 million.

Of the ten U.S.-listed Bitcoin spot ETFs, positive flows were only observed from three issuers: Bitwise (BITB), Franklin (EZBC), and Valkyrie (BRRR). Cumulatively, these issuers registered a $10.7 million influx on Monday.

Meanwhile, asset managers like Fidelity (FBTC), Ark Invest (AKB), and Grayscale Investment (GBTC) saw significant outflows yesterday. Ark’s Bitcoin spot ETF has the largest negative flow on Monday with $31.3 million. Fidelity recorded a $4.9 million outflow.

Interestingly, Grayscale’s outflow on Monday dropped by over 50% from the value recorded in the previous trading day. In particular, Grayscale’s Monday outflow was $24.7 million, compared to the $88 million negative flow of Friday.

Image Source: Spot On Chain

On the other hand, the most prominent asset manager, BlackRock, which previously counterbalanced Grayscale’s unyielding negative flow, saw no influx on Monday. More specifically, BlackRock has recorded zero flow in its iShares Bitcoin Trust (IBIT) for the fourth consecutive trading day. 

Due to BlackRock’s flat flow for four days, the overall U.S. Bitcoin spot ETF market continues to bleed. The positive flow was last seen on Tuesday, April 23. 

CoinShares’ latest report on the global crypto investment market noted that trading volume dropped to $11.8 billion last week from $18 billion in the previous week. The report noted that the decline in trading volume mirrored a 6% decline in Bitcoin’s market value. Bitcoin has continued to trade in the red even after its halving, sparking a cautious investment approach from institutions.

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