Spot Bitcoin exchange-traded funds in the United States experience a reversal, returning to net outflows on Monday after a streak of net inflows throughout the previous trading week, totaling $860 million.

Despite BlackRock's IBIT ETF recording inflows of $165.9 million, it couldn't offset the $302.6 million outflows from Grayscale's converted GBTC fund, resulting in a total net outflow of $85.7 million, as per data from CoinGlass.

Fidelity's FBTC saw the second-largest inflows of $44 million, followed by Invesco's BTCO with $4.2 million. Notably, Ark Invest 21Shares's ARKB ETF witnessed its first outflows since trading began on Jan. 11, with losses amounting to $300,000. Other funds experienced inflows ranging from zero to $2 million. The total net inflows currently stand at just over $12 billion.

Despite a recent drop in outflows from Grayscale's GBTC fund, which went from a peak of $642.5 million on March 18 to $104.9 million on March 28, Monday's outflows surged back above the daily average of $274 million. This resurgence raises concerns, especially considering that markets were closed on Good Friday, potentially impacting Monday's figures.

The total outflows for GBTC now exceed $15 billion since trading commenced on Jan. 11. In bitcoin terms, the converted fund has seen a 46% decrease, from around 619,000 BTC to 333,619 BTC (equivalent to $22 billion), according to CoinGlass.

BlackRock's IBIT holds the largest bitcoin under management, with over 252,000 BTC ($17 billion), followed by Fidelity's FBTC with more than 144,000 BTC ($10 billion).

Trading volumes for U.S. spot Bitcoin ETFs reached $3.03 billion on Monday, led by BlackRock's IBIT with $1.37 billion. Grayscale's GBTC and Fidelity's FBTC generated $806 million and $556 million, respectively, according to The Block's data dashboard.

However, daily trading volumes have been declining steadily since hitting a peak of $9.93 billion on March 5 when bitcoin surged past its previous cycle's all-time high of around $69,000.

Overall, cumulative trading volume for all spot bitcoin ETFs now stands at $184.6 billion.

Bitcoin is currently trading at $66,007, marking a 4.5% decline over the last 24 hours. Meanwhile, the GMCI 30 index, representing the top 30 cryptocurrencies, dropped 5.4% to 144.80 in the past 24 hours.

Market volatility has led to over $135 million in bitcoin positions being liquidated during the past 24 hours, with long positions accounting for $93 million of the total, according to CoinGlass data.