Bitcoin Spot ETFs See $541 Million Outflows, Largest Daily Negative Flow Since May

Bitcoin exchange-traded funds in the United States saw net outflows of $541 million on Monday, marking their largest daily net outflow since May 1 and the second-largest negative flow since trading began in January.

“Following last week’s record inflows, some degree of rebalancing is expected as investors take profits and adjust their portfolios in anticipation of market volatility,” said Rachael Lucas, cryptocurrency analyst at BTCMarkets. “The timing is likely to coincide with the upcoming US election results, as many market participants take a ‘wait-and-see’ stance amid heightened geopolitical and political uncertainty.”

Eight bitcoin spot ETFs saw net outflows yesterday, with Fidelity’s FBTC seeing net outflows of $169.6 million. Monday also marked FBTC’s second-largest daily net outflow since its debut, according to data from SoSoValue.

21Shares’ Ark and ARKB saw net outflows of $138.26 million, and Bitwise’s BITB had net outflows of $79.84 million. Grayscale’s GBTC and its Mini Bitcoin Trust also reported net outflows of $63.66 million and $89.49 million, respectively. Franklin Templeton, VanEck, and Valkyrie funds also saw net outflows on Monday.

The only net inflows yesterday came from BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, which saw $38.42 million in net inflows.

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