On Monday, the spot Bitcoin ETF ended its 12-day consecutive net inflow record, while the Ethereum fund extended its positive trend for the 12th day.
According to The Block on the 22nd (local time), spot Bitcoin ETFs ended their 12-day consecutive net inflow record with a net outflow of $131.35 million, while the Ethereum ETF continued its net inflow for the 12th day, showing a positive cash flow of $296.6 million.
According to SoSoValue data, the spot Bitcoin ETF experienced a net outflow of $131.35 million, with Ark & 21Shares' ARKB accounting for the largest portion at $77.46 million. Funds from Grayscale, Fidelity, Bitwise, and VanEck also recorded net outflows that day. BlackRock's IBIT, the largest spot Bitcoin ETF by net assets, recorded zero flow along with six other ETFs.
This marks the first daily net outflow from Bitcoin funds since July 1, after which ETFs have attracted $6.12 billion in net inflows over 12 days.
Meanwhile, spot Ethereum ETFs extended their total net inflow streak to 12 days, recording a positive cash flow of $296.6 million on Monday. Inflows were led by Fidelity's FETH at $126.93 million, with $102 million flowing into BlackRock's ETHA. Grayscale's Mini Ethereum Trust and Bitwise's ETHW also recorded net inflows.
Spot Ethereum ETFs have experienced their largest positive inflow since their launch on July 24. Nine funds recorded a total net inflow of $3.53 billion over 12 days, with daily inflows surpassing Bitcoin ETFs on multiple days.
Presto Research analyst Min Jung said that Monday's cash flow data reflects a "familiar rotation" from Bitcoin to Ethereum, which often precedes altcoin momentum.
Jung stated, "Bitcoin has risen significantly this year, and Ethereum is becoming a natural next step for investors who feel they've 'missed' BTC trading or are looking for the next opportunity." She added, "Bitcoin dominance dropped by 5% last week, which suggests an early signal of capital rotating below the risk curve."
Jung further noted, "Historically, alt season begins with ETH price increases and BTC dominance decline while Bitcoin remains stagnant."
Considering that the current cryptocurrency market rally is primarily driven by institutional capital, Jung expressed uncertainty about whether this momentum will expand beyond large-cap altcoins to a broader market, suggesting that the scenario might unfold differently in this cycle.
According to The Block's cryptocurrency price page, Bitcoin was trading at $116,868, down 1.27% in the past day. Ethereum also recorded a 2.17% decline at $3,679.
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