Spot Bitcoin ETFs are back to daily net outflows. Grayscale’s GBTC total outflows exceeded $15 billion. Ark Invest 21Shares’ ARKB also experienced its first daily outflow with $300,000 in outflows.

Spot Bitcoin ETFs are back to net outflows!

Cryptocoin.comAs you have been following from ‘Bitcoin ETFs’, the total of US spot Bitcoin ETFs recorded a total of $860 million in net inflows on each trading day last week. However, ETFs returned to net outflows on Monday this week. According to CoinGlass data, BlackRock’s dominant IBIT ETF saw inflows of $165.9 million. However, Grayscale’s GBTC fund recorded outflows of $302.6 million. Therefore, inflows were not enough to overcome outflows. Thus, these fund flows led to a total net outflow of $85.7 million yesterday.

Fidelity’s FBTC took second place on Monday with $44 million in inflows. Invesco’s BTCO came in third with $4.2 million. However, Ark Invest 21Shares’ ARKB ETF suffered its first outflow since it began trading on January 11. ARKB lost $300,000. The remaining funds saw inflows between zero and $2 million. Total net inflows are now just over $12 billion.

“BI thought it would have slowed down by now!”

Earlier this month, a Coinbase report suggested that the potential sale of 35.9 million GBTC shares by Genesis Global Holdco LLC, worth about $2 billion, may have caused the recent GBTC selling pressure. Outflows from Grayscale’s GBTC fell from a peak of $642.5 million on March 18 to $104.9 million on March 28. Some analysts said this selling pressure was slowing. Yesterday’s outflows were above the daily average of $274 million. But the fact that markets were closed on Friday may have affected Monday’s figure.

Bloomberg ETF analyst James Seyffart said yesterday, “There was $302.6 million outflow from GBTC today. Obviously higher than I expected. I thought this would have slowed down by now.” Monday’s figure brings GBTC’s total outflow to more than $15 billion since it began trading on January 11. According to CoinGlass, the fund has fallen 46% during that time, from about 619,000 BTC to 333,619 BTC ($22 billion). BlackRock’s IBIT accumulated the most Bitcoin with 252,000 BTC ($17 billion). Fidelity’s FBTC accumulated more than 144,000 BTC ($10 billion).

Spot Bitcoin ETF trading volumes continue to fall

US spot Bitcoin ETFs generated $3.03 billion in trading volume on Monday. BlackRock’s IBIT provided $1.37 billion of that. Grayscale’s GBTC and Fidelity’s FBTC generated $806 million and $556 million, respectively. However, daily trading volumes have steadily declined since the $9.93 billion peak on March 5, when Bitcoin first crossed nearly $69,000, the ATH level of the previous cycle.