After several days of straight inflows, the funds logged hundreds of millions in outflows, putting the first crack in their record run of fresh capital.
Spot Bitcoin ETFs just ended their multi-day inflow streak, logging about $131 million in net outflows on July 21, according to SoSoValue data. This marks the first red day for the funds in nearly two weeks, coming after a record $6.6 billion in inflows earlier this month.
Ark Invest’s ARKB led the outflows with approximately $77.5 million, followed by Grayscale’s GBTC with $36.8 million. Fidelity’s FBTC shed around $12.8 million, while VanECK and Bitwise logged $2.5 million and $1.9 million, respectively.
BlackRock’s IBIT, however, stayed flat, with no significant outflow or inflow recorded. The pullback comes as Bitcoin (BTC) continues to hover below $120,000, with investors appearing to take profits after last week’s push above $123,000.
The crypto king briefly dropped to an intraday low of $116,639 earlier, but has since recovered to around $119,000, posting a 0.73% gain in the past 24 hours.
The 12-day inflow streak helped the ETFs notch six consecutive weeks of gains, bringing in $10.5 billion during that period. Since their launch, U.S. spot Bitcoin ETFs have amassed $54.75 billion in net inflows and now collectively hold about $152 billion worth of Bitcoin, representing 6.5% of BTC’s total supply.
Meanwhile, Ethereum ETFs, which have been rallying alongside their Bitcoin counterparts, continued their streak of inflows. On the same day that Bitcoin products saw outflows, the ETH-tied funds pulled in approximately $297 million, marking their 12-day run.
ETH ETFs have particularly been thriving since the asset recently broke out of a multi-month downtrend, climbing back toward levels not seen in months. ETH (ETH) recently touched the $3,800 mark, its highest price since early 2024, and now trades slightly over $3,705 at the time of writing.