Only one spot bitcoin ETF recorded inflows yesterday

Spot bitcoin exchange-traded funds listed in the United States saw net inflows yesterday off the back of Grayscale's converted Bitcoin BTC -1.49% Trust, GBTC, experiencing no net inflows or outflows.

GBTC has primarily seen heavy outflows since converting to a spot bitcoin ETF — often overpowering inflows into other products. It has seen some $17 billion in net outflows, according to data from SoSo Value.

No Bitcoin ETFs saw net inflows or outflows yesterday, except for the Bitwise Bitcoin ETF, which had inflows of about $12 million , according to the same data.

Since their respective listings, spot bitcoin ETFs in the U.S. have seen a cumulative net inflow of $11.77 billion. However, volumes continue to decline steadily since peaking in early March, according to The Block's data.

In related crypto ETF news, a proposal to list and trade shares of Grayscale's ether futures ETF has been withdrawn while the Securities and Exchange Commission has delayed deciding on spot Ethereum ETFs.