On Monday, spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of $131.35 million, ending a 12-day inflow streak that had brought in $6.6 billion. The largest outflow came from ARK Invest’s ARKB, which lost $77.46 million in one day, followed by Grayscale’s GBTC with $36.75 million and Fidelity’s FBTC with $12.75 million. Other funds like Bitwise’s BITB and VanEck’s HODL also saw smaller outflows. Despite this, total net inflows remain strong at $54.62 billion, with total net assets across all spot Bitcoin ETFs at $151.60 billion, representing 6.52% of Bitcoin’s market cap. Vincent Liu from Kronos Research noted that these outflows reflect profit-taking and institutional rebalancing rather than panic. This correction follows a period of significant inflows earlier in July, where two consecutive days saw over a billion dollars each in Bitcoin ETF inflows. Meanwhile, spot Ether ETFs continued their success with an additional $296.59 million in inflows. Read more AI-generated news on: https://app.chaingpt.org/news

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