ARK Invest’s ARKB led the withdrawals with $77.46 million, followed by Grayscale’s GBTC and Fidelity’s FBTC. Despite the dip, total net assets remain strong at $151.6 billion. Analysts see the move as strategic rebalancing rather than panic selling. Meanwhile, spot Ethereum ETFs continued gaining momentum by bringing in $296.59 million on Monday and extending their inflow streak to 12 days.
Profit Taking Hits Bitcoin ETFs
Spot Bitcoin exchange-traded funds (ETFs) experienced a reversal on Monday after recording a net outflow of $131.35 million and breaking a 12-day streak. The largest withdrawal came from ARK Invest’s ARKB, which lost $77.46 million in a single day.
Bitcoin ETF flow (Source: Farside Investors)
Grayscale’s GBTC followed with $36.75 million in outflows, while Fidelity’s FBTC posted a $12.75 million decrease. Bitwise’s BITB and VanEck’s HODL also reported modest outflows of $1.91 million and $2.48 million, respectively. BlackRock’s IBIT, which is the largest spot Bitcoin ETF by net assets at $86.16 billion, remained unchanged with no inflows or outflows.
Despite Monday’s retreat, total cumulative inflows into spot Bitcoin ETFs are still strong at $54.62 billion, with combined net assets now totaling $151.60 billion. This represents 6.52% of Bitcoin’s overall market capitalization.
According to Vincent Liu, chief investment officer at Kronos Research, the recent outflows are not indicative of panic but rather strategic profit-taking by institutions close to Bitcoin’s all-time highs. Liu explained that this movement was a “natural pause” after an aggressive rally and should be seen as an institutional rebalancing rather than fear-based selling.
The pullback happened on the heels of record-breaking inflows earlier in July where Bitcoin ETFs saw back-to-back billion-dollar days on July 10 and 11. In contrast to Bitcoin’s brief outflow hiccup, spot Ether ETFs continued their strong upward momentum by bringing in an additional $296.59 million on Monday.
Ethereum ETF flow (Source: Farside Investors)
This extended their inflow streak to 12 consecutive days, and raised cumulative net inflows to $7.78 billion. The surge in interest was particularly evident last week when Ethereum ETFs posted their highest single-day inflows since launch, with $726.74 million on Wednesday followed by $602.02 million on Thursday.
