U.S. spot Bitcoin exchange-traded funds (ETFs) have broken their 19-day positive net inflows streak after several ETFs logged millions in outflows Monday. As a result of the news, Bitcoin's price shed some $2,000.
Data from London-based investment firm Farside Investors revealed that four American spot BTC ETFs saw nearly $65 million in net outflows Monday after a significant 19-day streak of upside net inflows.
Invesco Galaxy's BTCO saw an outflow of $20.5 million, Valkyrie's BRRR shed $15.8 million, while Grayscale's GBTC logged outflows of $39.5 million. The biggest news was Fidelity's FBTC outflow of $3 million on Monday, considering how the fund had been gaining traction in recent weeks among institutional investors.
BlackRock's IBIT remains strong in its inflows versus outflows streak, but its $6.3 million inflow on Monday was a significant slump from its hundreds of millions in inflows for four consecutive days.
News of the streak being snapped sent Bitcoin prices to a retreat. From trading at the $69,000 highs, the world's largest digital asset by market value since dipped to around $67,500 as of writing.
Being the world's most popular cryptocurrency, Bitcoin price movements have affected other digital assets, even those that are already beginning to make their own statements in the industry.
Other coins following Bitcoin in the ranks declined in the last hour. Ether (ETH) was down by around 0.4% in the last hour, Binance Coin (BNB) dipped by 0.5%, and Solana (SOL) retreated by 0.1%, according to CoinGecko.
A holder of the digital currency may have been hit by the news too. About an hour after Farside posted the latest spot BTC ETF flow data, a Bitcoin whale moved 889 BTC worth some $60.4 million out of Binance, according to Whale Alert, which tracks the movement of the world's largest cryptocurrency holders.
Despite the outflows Monday, last week's performance by global spot BTC ETFs was celebrated by the crypto community as global ETFs added some 26,000 Bitcoin in just a week, as per a chart by prominent digital assets investor HODL15Capital.
BlackRock's IBIT is still king of the game as it logged a total of 304,995 BTC as of Friday, followed by Grayscale's GBTC with 284,581 Bitcoin and Fidelity's FBTC with 173,759 BTC. Globally, Canadian Purpose's BTCC added over a thousand Bitcoins last week, leading the international race. As of Friday, global Bitcoin ETFs held $1,031,973 BTC.
