US Spot Bitcoin ETFs Record First Net Outflows in Nine Sessions
Institutional outflows hit $263 million as Bitcoin price retreats below $77,000
L'essentiel
- US-listed spot Bitcoin ETFs saw $263 million in net outflows on Monday, ending a nine-session inflow streak as Bitcoin prices dipped below $77,000.
- Fidelity's FBTC led the outflows, while broader market sentiment shifted toward fear.
Résumé généré par IA
US-listed spot Bitcoin exchange-traded funds posted their first net outflows in nine sessions as BTC slipped below $77,000 on Monday.
Bitcoin ETFs saw $263 million in net outflows on Monday, marking the first outflows since mid-April, according to SoSoValue data.
The losses came after spot ETFs drew $2.1 billion in inflows since April 13 as BTC rose about 10% over the period, according to CoinGecko.
Alongside Bitcoin's run, the Crypto Fear & Greed Sentiment Index on Monday moved into “Neutral” territory for the first time in three months, clocking a score of 47. However, the index flipped back to “Fear” on Tuesday as BTC failed to extend its rally above $80,000.
Fidelity’s Bitcoin ETF leads outflows at $150 million
The majority of Monday’s losses came from the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $150 million in outflows, according to Farside.
The Grayscale Bitcoin Trust ETF (GBTC) and the ARK 21Shares Bitcoin ETF (ARKB) followed with about $47 million and $43 million, respectively.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) and the Morgan Stanley Bitcoin Trust ETF (MSBT) recorded flat flows after multi-day inflow streaks.
Negative sentiment also extended to spot Ether ETFs, which posted $50.5 million in outflows on Monday. XRP and Solana ETFs recorded zero inflows.
Bitcoin institutional demand outpaces mining supply
Bitcoin’s rally in April came as institutional demand far outpaced mining supply. Michael Saylor’s Strategy alone has purchased 56,235 BTC in April so far, while global ETFs added another 34,552 BTC on behalf of their clients over the same period. This compares with only 11,829 BTC estimated to have been mined so far this month, according to HODL15Capital data.
CryptoQuant analyst XWIN Japan said Bitcoin’s sharp decline over the past few days was likely not driven by spot supply-demand imbalance, but by a “classic liquidity event” triggered by forced liquidations of leveraged long positions. In earlier analysis, CryptoQuant said a rejection of the $80,000 level would signal overhead supply at that level, potentially extending the drawdown for both ETF investors and short-term whales.
