After a significant 12-day period where they attracted $6.6 billion, spot Bitcoin ETFs experienced a net outflow of $131.35 million on Monday.
Data sourced from SoSoValue reveals that ARK Invest’s ARKB saw the most substantial reduction, losing $77.46 million in a single day. Grayscale’s GBTC followed with outflows totaling $36.75 million, while Fidelity’s FBTC experienced a decrease of $12.75 million, according to data provided.
Bitwise’s BITB and VanEck’s HODL also recorded more modest outflows, at $1.91 million and $2.48 million, respectively. BlackRock’s IBIT, which is the largest fund based on net assets ($86.16 billion), did not see any inflows or outflows during this period.
Despite Monday’s outflows, the cumulative net inflows remain strong at $54.62 billion. The total net assets held across all spot Bitcoin (BTC) ETFs amount to $151.60 billion, representing 6.52% of Bitcoin’s overall market capitalization.
Related: Spot Bitcoin ETFs gain $363M, extend 12-day inflow streak to $6.6B
Investors Taking Profits After Price Gains
Investment managers were securing profits and managing risk, leading to the $131 million outflow, according to Vincent Liu, the chief investment officer at Kronos Research.
Liu explained to Cointelegraph that “the recent ETF outflows are indicative of profit-taking happening around market highs, alongside calculated rebalancing by institutions to capitalize on gains.”
He clarified that these outflows are a typical market correction following a significant price increase, not an indicator of fear or concern among major investors. “This isn’t panic selling; it’s strategic positioning and a natural pause following a substantial upward trend,” Liu stated.
This sudden shift to outflows comes after a period of record inflows experienced earlier in July. Notably, July 10 and 11 saw inflows of $1.18 billion and $1.03 billion, respectively, marking the first instance of two consecutive days each exceeding $1 billion in inflows into Bitcoin ETFs.
Related: Bitcoin ETF inflows show institutions ‘doubled down’ on BTC at $116K
Ethereum ETFs Continue Positive Trend
Spot Ether (ETH) ETFs maintained their positive inflow trend, reporting an additional $296.59 million in net inflows on Monday. As investor interest grows, the cumulative total net inflow has reached $7.78 billion.
The current positive streak, now lasting 12 consecutive days, included a record-breaking Wednesday when Ethereum ETFs saw daily inflows of $726.74 million, the largest since their introduction. Thursday followed with $602.02 million as demand for Ether investment products increased.
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