Spot Bitcoin ETFs in the U.S. See $438M Outflow After $3.4B Influx Streak

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded a reversal in investor sentiment on Monday, with total outflows of $438.4 million.

This marked the end of a five-day streak of inflows that had brought in approximately $3.4 billion.

The negative flow was led by Bitwise’s BITB, which reported outflows of over $280 million, according to SoSoValue data.

Grayscale’s GBTC Saw $158M in Outflows

Grayscale’s GBTC followed with $158.2 million in outflows, while Fidelity’s FBTC saw $134.7 million withdrawn.

Other ETFs, including Ark and 21Shares’ ARKB, Invesco, Valkyrie, and VanEck, also experienced net outflows for the day.

Despite the downturn, two funds bucked the trend. BlackRock’s IBIT, the largest spot Bitcoin ETF with $31.6 billion in cumulative inflows, recorded $267.8 million in net inflows.

Grayscale’s Mini Bitcoin Trust added a modest $420,460.

Overall, the 12 Bitcoin ETFs traded $5.6 billion on Monday, up slightly from $5.4 billion last Friday.

Their cumulative inflows reached $30.4 billion, while total net assets stood at $102.2 billion, representing 5.4% of Bitcoin’s total market capitalization.

Meanwhile, Bitcoin’s price has retraced from last week’s high of nearly $100,000, falling 3.55% in the past 24 hours to $94,515 at the time of reporting.

In contrast, U.S.-based spot Ethereum ETFs recorded modest inflows of $2.8 million on Monday.

Funds from Bitwise, Fidelity, and VanEck saw positive flows, while 21Shares and Grayscale reported outflows.

Ether ETF trading volumes surged to $711.2 million, a significant rise from $373.9 million last Friday, with cumulative inflows totaling $109 million.

As reported, digital asset investment products have recorded their largest-ever weekly inflows of $3.13 billion.

The surge brings total inflows since mid-September—when U.S. interest rates were first reduced—to $15.2 billion, and year-to-date inflows to a record-breaking $37 billion.

Bitcoin accounted for the lion’s share of inflows at $3 billion, even as its record-breaking price levels prompted $10 million in inflows into short-Bitcoin products, marking a monthly high of $58 million not seen since August 2022.

Meanwhile, Solana stood out among altcoins, attracting $16 million in inflows compared to Ethereum’s $2.8 million.

XRP, Litecoin, and Chainlink also saw notable investments, with $15 million, $4.1 million, and $1.3 million, respectively.

Crypto Market Poised for Alt-Season as Bitcoin Pauses Rally

The crypto market is seeing a shift in focus toward major altcoins like XRP and SOL, as Bitcoin enters a corrective phase, according to Ruslan Lienkha, chief of markets at YouHodler.

The shift may signal the beginning of an alt-season, with Ethereum positioned to benefit significantly from narrowing its gap with Bitcoin.

Bitcoin’s temporary pause, likely fueled by profit-taking, could lead to price consolidation before a potential push toward the psychological $100,000 mark.

Meanwhile, record inflows of stablecoin capital into Binance highlight strong investor confidence and suggest the bull market still has room to grow.

A declining correlation between Bitcoin and Ethereum presents opportunities for traders who missed the recent Bitcoin rally.

As the second-largest cryptocurrency, Ethereum remains a key asset, with substantial growth potential if an alt-season gains momentum.

Investors are advised to monitor market trends closely as this dynamic phase unfolds.