U.S.-listed spot bitcoin exchange-traded funds saw net outflows of $131.4 million on Monday, breaking a 12-day streak of uninterrupted inflows that brought in over $6 billion, according to data from Farside Investors.
The pullback came as bitcoin (BTC) itself traded mostly flat to start the week. Prices continue to hover in a tight range on either side of $118,000 after a scorching run to a new record just below $124,000 two weeks ago.
The now-ended ETF inflow streak coincided with that strong rally in bitcoin, the funds attracting more than $6 billion during the 12-day stretch.
The outflows on Monday don’t necessarily signal a change in sentiment, but they mark a pause in what had been one of the strongest runs of ETF inflows since the funds launched.
Meanwhile, altcoins — after severely lagging bitcoin for months — have gained investor favor for the moment. Ether-based ETFs, for instance, posted $296.5 million in inflows on Monday, now having brought in $8 billion in assets since July 2.
The ETH/BTC ratio, which had been in decline for roughly three years — has rebounded 24% over the past week and 39% over the past month.
The divergence between bitcoin and ether ETF flows could reflect a rebalancing by investors looking to diversify within crypto or rotate into the newer offerings after a prolonged BTC rally.
Despite the ETF cooling, bitcoin remains up nearly 20% over the past month and continues to trade near record highs. While volatility remains a factor, the data suggests that both investor interest and fresh capital are still flowing into the space — even if not quite as steadily as last week.