On Thursday, the U.S. spot bitcoin ETFs saw their net inflows slow to the lowest level so far this month as bitcoin swiftly retreated after reaching its latest all-time high.

Net inflows fell to $132.5 million yesterday, heavily impacted by $257.1 million in outflows from Grayscale’s converted GBTC fund, according to data from BitMEX Research. Total net inflows since spot bitcoin ETF trading began on Jan. 11 now stand at just under $12 billion — or over 211,000 BTC in bitcoin terms.

BlackRock’s IBIT ETF dominated Thursday’s inflows as usual, adding $345.4 million. VanEck’s HODL came second yesterday, registering $13.8 million worth of inflows as it continues to witness improved flows since temporarily reducing its fee to zero. Surprisingly, Fidelity’s FBTC spot bitcoin ETF, which …