US spot bitcoin ETF outflows continue with $51.5 million more exiting

Spot bitcoin exchange-traded funds in the United States saw more than $51.5 million in net outflows yesterday.

Notably, the Grayscale Bitcoin BTC +1.65% Trust was not the biggest culprit. The ARK 21Shares Bitcoin ETF saw $31.34 million leave the product on April 29, while GBTC experienced $24.66 million in net outflows, per data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also saw a net outflow of $6.85 million.

Some U.S. spot bitcoin ETFs saw net inflows. The Bitwise Bitcoin ETF gained the most with a net inflow of $6.84 million, while the Valkyrie Bitcoin Fund and Franklin Bitcoin ETF garnered $2.67 million and $1.82 million, respectively.

The other spot bitcoin ETFs, including BlackRock's iShares Bitcoin Trust, had net inflows of $0.

Since garnering regulatory approval and listing, spot bitcoin ETFs in the U.S. have garnered a cumulative total net inflow of nearly $12 billion.

Volumes, however, have been steadily declining since peaking on March 5.

While U.S.-listed spot bitcoin ETFs have been the industry's focal point in recent months, attention turned today to the six spot bitcoin and ether ETFs that debuted on the Hong Kong Stock Exchange.

Hong Kong Exchanges and Clearing Ltd., or HKEX, listed the Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), ChinaAMC Ether ETF (3046.HK), Harvest Bitcoin Spot ETF (3439.HK) and Harvest Ether Spot ETF (3179.HK) earlier today.

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