As the spot bitcoin exchange-traded fund hype died down alongside the price of the cryptocurrency, the new U.S. ETFs saw $343.5 million worth of net outflows in April, ending their three-month inflow streak.

The ETFs had been on an impressive run of inflows, attracting $1.5 billion, $6 billion and $4.6 billion of demand in January, February and March, respectively. However, overall flows slowed significantly since peaking at a net daily inflow of $1.05 billion on March 12, according to The Block’s data dashboard, with bitcoin subsequently dropping 18% between its all-time high of $73,836 on March 14 and the end of April.

April’s outflows continued to be led by Grayscale’s higher-fee GBTC fund with $2.5 billion exiting the ETF over the month. Ark Invest’s ARKB witnessed $86.3 million in …