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US spot Bitcoin ETFs see $424.7 million outflow after brief inflow streak

The $424.7 million Monday withdrawal reversed last week’s $197.4 million inflows, extending concerns about fragile ETF demand after June’s record $4.51 billion net outflow.

Reported · Written up by our desk · Bitcoin

US-listed spot Bitcoin exchange-traded funds fell back into net outflows after a short-lived rebound in flows, with $424.66 million leaving the funds on Monday, according to SoSoValue data cited by Cointelegraph.

Cointelegraph reports the latest selling reversed the prior week’s $197.4 million new inflows, which had briefly ended an eight-week run of weekly withdrawals and had helped fuel hopes for improving institutional demand.

The renewed outflows add to broader pressure after June produced the largest monthly net outflow on record, when investors pulled $4.51 billion from US spot Bitcoin ETFs.

As of Monday, Cointelegraph said spot Bitcoin ETFs held $74.79 billion in total net assets, while net outflows amounted to roughly $5.8 billion for the year and July’s rebound failed to extend, leaving demand described as fragile.

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