<p>The five-day net outflow total beginning on April 12 amounts to $319 million, reflecting an average of $64 million over the span. That peaked on Wednesday, when $165 million left the 11-fund sector.&nbsp;&nbsp;&nbsp;</p>
<p>Such an outflow streak has happened just once before, with US spot bitcoin ETFs bleeding assets each day from March 18 to March 22. Those outflows were heavier than the latest active streak, totaling $888 million.</p>
<p>The main culprit driving the net outflows is the Grayscale Bitcoin Trust (GBTC). The higher-priced fund, which converted to an ETF in January, has averaged $116 million of net outflows per day over the last five trading days.</p>
<p>Aside from GBTC, only the Ark 21Shares Bitcoin ETF (ARKB) has contributed any meaningful net outflows, seeing $43 million exit the fund on Wednesday. Others meanwhile have watched their inflows completely stop.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p>Unique to its competitors, the flow-gathering leader in the space, BlackRock, has kept its daily flows positive.&nbsp;</p>
<p>Nine US spot bitcoin ETFs saw zero inflows on both April 12 and April 15, according to Farside Investors&nbsp;<a href="https://farside.co.uk/?p=997" target="_blank" rel="nofollow noopener">data</a>. IBIT&rsquo;s net inflows were $111 million and $73 million on those days, respectively.&nbsp;&nbsp;</p>
<p><strong>Read more:&nbsp;</strong><a href="https://blockworks.co/news/blackrock-extends-bitcoin-etf-inflows" target="_blank" rel="nofollow noopener">BlackRock</a></p>