Spot Bitcoin ETFs in the U.S. recorded a significant shift in investor sentiment on Monday. The funds saw outflows of $438.4 million, breaking a five-day streak that brought in $3.4 billion. This marked a reversal in a robust period of inflows for the sector.
Bitwise Leads Bitcoin ETF Outflows on Monday
Bitwise’s BITB fund led Monday’s outflows, losing over $280 million, according to data from SoSoValue. Grayscale’s GBTC followed with $158.2 million in withdrawals, while Fidelity’s FBTC saw $134.7 million pulled out. Other funds, including Ark and 21Shares’ ARKB, Invesco, Valkyrie, and VanEck, also recorded net outflows.
Despite these losses, BlackRock’s IBIT stood out, recording $267.8 million in inflows. Grayscale’s Mini Bitcoin Trust added $420,460, relieving the overall outflow trend. The cumulative trading volume for the 12 Bitcoin ETFs increased to $5.6 billion, slightly up from $5.4 billion last Friday.
“This shift in investor behavior may reflect profit-taking or repositioning after recent gains,” a market analyst commented. The outflows come as Bitcoin’s price retraced 3.55% in the past 24 hours, settling at $94,515.
Ethereum ETFs Gain as Bitcoin Consolidates Momentum
In contrast to Bitcoin ETFs, U.S.-based spot Ethereum ETFs recorded modest inflows of $2.8 million on Monday. Bitwise, Fidelity, and VanEck Funds contributed positively, while 21Shares and Grayscale reported minor outflows. Trading volumes for Ethereum ETFs surged to $711.2 million, up significantly from $373.9 million last Friday.
Cumulative inflows into Ethereum ETFs now stand at $109 million, indicating growing investor interest in the asset. Analysts suggest Ethereum could benefit from Bitcoin’s consolidation phase, narrowing the gap between the two.
“The shift to altcoins like Ethereum may signal the start of a broader alt-season,” noted Ruslan Lienkha, chief of markets at YouHodler.
Moreover, Solana attracted $16 million in inflows, outperforming Ethereum’s gains. Other altcoins, including XRP, Litecoin, and Chainlink, also drew notable investments, reinforcing the broader market’s interest in alternatives to Bitcoin.
Short-Bitcoin Products See $10 Million Inflows
Bitcoin’s recent rally to nearly $100,000 has driven a mix of profit-taking and strategic repositioning among investors. This pause in Bitcoin’s momentum has contributed to a 5.4% drop in its total ETF assets, now valued at $102.2 billion. Nonetheless, cumulative inflows across all Bitcoin ETFs remain robust at $30.4 billion.
Short-Bitcoin products also saw inflows of $10 million, reflecting cautious sentiment as Bitcoin approached psychological resistance levels. The total monthly inflows for these products reached $58 million, the highest since August 2022. Meanwhile, stablecoin inflows into Binance highlight continued investor confidence in the broader crypto market.
“The current trend underscores a healthy market cycle,” said one industry expert.
With Bitcoin consolidating, attention has turned to altcoins and potential opportunities in Ethereum. Market watchers suggest this phase may lead to a renewed push toward the $100,000 milestone.