According to Nate Geraci, the president of The ETF Store, the performance of Bitcoin exchange-traded funds (ETFs) is directly linked to the performance of the underlying Bitcoin asset. This means that any fluctuations in Bitcoin prices will be reflected in the inflows and outflows of the corresponding ETFs.

The Bitcoin ETF market is still in its early stages of adoption, and Geraci suggests that as the adoption rate increases, the trading volume will also surge accordingly. However, he emphasizes that the flows in any ETF, including Bitcoin ETFs, will not always be a straight line, and there will be days with outflows as well.

The data shows that spot Bitcoin ETFs in the United States have been underperforming, with a net outflow of $83.6 million on the final trading day of the week. This is largely attributed to the monthly options expiration and rising PCE inflation, which have contributed to Bitcoin's recent underperformance.

Furthermore, the financial world was shaken by the DTCC's update on collateral values for specific securities, particularly ETFs that held Bitcoin or other cryptocurrencies as assets.

Despite the earlier resurgence in net inflows into Bitcoin ETFs, the interest in the ETF market has once again been overshadowed by outflows. The total net outflow of spot Bitcoin ETFs was $83.6 million, as per data released on April 27 by Farside Investors and Bloomberg. Volumes and purchasing activity in the 11 listed ETFs were much lower, making it another disappointing day.

The sole Bitcoin ETF experiencing inflows was Ark 21Shares (ARKB), which sold all of its assets in the ProShares BTC Strategy ETF (BITO) and only received $5.4 million in inflows, despite anticipation of purchases from the ARK funds. The price of the shares dropped 1.84% but increased 0.61% after market hours.