Spot bitcoin ETFs extend negative streak to four days with $40 million in outflows
Quick Take Spot bitcoin ETFs in the U.S. recorded $40.5 million in net outflows yesterday amid a broad recovery in crypto market prices. Monday’s outflows extended the ETFs’ streak of negative flows to four consecutive days.
U.S. spot bitcoin exchange-traded funds saw $40.5 million in net outflows on Monday, extending their streak of negative flows to four days.
BlackRock's IBIT was the only spot bitcoin ETF to record outflows on Monday, with $100.7 million exiting the fund, according to SoSoValue data. The outflow was partially offset by inflows into five ETFs managed by Fidelity, Grayscale, Bitwise, VanEck, and Invesco.
Monday's outflows extended the ETFs' streak of negative flows to four consecutive days, following Friday's outflows of $366.6 million and Thursday's $536.4 million.
The outflows came as bitcoin briefly rebounded above $$111,000 on Monday after recovering from a three-day slump. However, the world's largest cryptocurrency fell 3% in the past 24 hours to $107,871 as of 3:10 a.m. ET Tuesday.
"Prices were climbing even amid ETF outflows when spot and derivatives demand offset institutional redemptions especially during risk-on shifts or when ETF flows lag underlying market appetite," Vincent Liu, CIO of Kronos Research, told The Block.
"This points less to a clean split between institutional and retail sentiment, and more to market structure in motion with hedging flows, derivative rotations, and reporting lags all blurring the signal between actual demand and what ETF data shows," Liu said.
Meanwhile, spot Ethereum ETFs recorded $145.7 million in net outflows on Monday, marking their third consecutive day of negative flows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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