Movement around Bitcoin spot ETFs has slowed significantly this week, with two major funds losing their unbeaten streak of entries since their launches. On Monday, both the Bitwise Bitcoin ETF (BITB) and the ARK 21Shares Bitcoin ETF (ARKB) experienced net zero inflows for the first time. Daily volume for both ETFs was $23.4 million and $50.5 million, respectively, according to Bloomberg Terminal data. This represents a clear decline in performance for both funds.

However, the popularity of Bitcoin spot ETFs has allowed secondary players to succeed as well. Bitwise and Ark, the third and fourth largest of nine new Bitcoin spot ETFs launched on January 11, absorbed 31,000 BTC in less than a month, valued at over $1.3 billion. Ahead of them are clear favorites like BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).

Grayscale Bitcoin Trust (GBTC), on the other hand, has had a streak in the opposite direction: constant outflows since its conversion to an ETF, losing 146,000 of its once over 600,000 BTC holdings. Grayscale had an exit of just $107.9 million on Monday. This is the second-smallest daily sell-off since launch and continues a trend of cooling outs as Bitcoin holders worry about the impact on the market. Bitcoin funds, including all spot ETFs Grayscale, have experienced net inflows of over $1.5 billion since last month.