Bitcoin spot ETF liquidity has slowed after weeks of heavy buying. Currently, only Blackstone’s iShares Bitcoin Trust (IBIT) continues to record daily positive flows. This is a normal development in the ETF space, one expert said. The initial enthusiasm for Bitcoin spot ETFs appears to have waned, and reality is slowly setting in that the recent pace of inflows can no longer keep up with the rapid outflows from Grayscale Bitcoin Trust. As a result, the entire spot ETF space saw a total of 1,766 Bitcoin net outflows in the week ending April 12. Last Friday and Monday, Fidelity’s Bitcoin Fund (FBTC) saw zero inflows, breaking its daily accumulation record since its launch on January 11. This makes Blackstone’s iShares Bitcoin Trust (IBIT) the only Bitcoin spot ETF to experience continuous net inflows since trading began. In most other funds, including Invesco Galaxy Bitcoin ETF (BTCO), VanEck Bitcoin Trust (HODL) and Valkyrie Bitcoin Fund (BRRR), zero inflows and even occasional outflows have become the norm. James Seyffart, ETF analyst at Bloomberg Intelligence, believes this is normal in a post on X. For example, about 83% of all ETFs in the US market did not have any inflows on Monday.