U.S. spot Bitcoin exchange-traded funds witnessed a combined $580.6 million in net outflows last week for the first time in five weeks.

Grayscale’s converted GBTC ETF led the outflows with $274.3 million exiting the higher-fee fund, followed by Ark Invest’s ARKB and Fidelity’s FBTC, which registered $149.7 million and $146.3 million in net outflows, respectively.

BlackRock’s IBIT was the only fund to generate net inflows last week, attracting $41.6 million, while the remaining U.S. spot Bitcoin ETFs witnessed net outflows of zero flows for the week. Total net inflows into the ETFs since trading began in January now stand at $15.1 billion.

The spot Bitcoin ETFs had been on a record 19-day positive streak prior to last week, bringing in over $4 billion in net inflows. The run came to an …