Spot bitcoin exchange-traded funds in the U.S. experienced $168.4 million in net outflows on Monday as crypto markets experienced significant turbulence.

Among 12 spot bitcoin ETFs, Grayscale’s GBTC recorded $69.12 million daily net outflows, according to data from SoSoValue. Ark Invest and 21Shares’ ARKB closely followed with $69 million outflows, while Fidelity’s bitcoin fund reported $58 million net outflows.

These outflows were countered by $21.81 million net inflows in Grayscale’s latest bitcoin trust, which went live last week. ETFs from VanEck and Bitwise also drew in around $3 million worth of funds on Monday. 

BlackRock’s IBIT, the largest spot bitcoin ETF in terms of net asset value, recorded zero flows yesterday, along with funds from Valkyrie, Invesco and three others. …