US-based spot bitcoin exchange-traded funds (ETFs) recorded significant net outflows totaling $139.88 million on Thursday, marking the fifth consecutive day of fund exits.

According to data from SoSoValue, Grayscale's GBTC led the pack with a daily net outflow of $53 million, followed closely by Fidelity's FBTC with $51 million in outflows. Bitwise's BITB reported $32 million leaving the fund, while VanEck's ETF saw net outflows of $4 million. Invesco and Galaxy Digital's funds experienced $2 million in combined net outflows.

The sole exception was BlackRock's IBIT, the largest spot bitcoin ETF by net asset value, which saw $1 million in net inflows and recorded a substantial $565 million in daily trade volume on Thursday. Conversely, other funds from Ark Invest, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex reported zero flows.

Despite the overall outflows, the ETFs collectively traded $1.16 billion on Thursday, a decrease from the $1.7 billion recorded on Tuesday. Since their launch in January, these 11 spot bitcoin funds have accumulated a total net inflow of $14.67 billion as of Thursday, excluding Wednesday's market closure for a public holiday.

Meanwhile, the price of bitcoin experienced a 1% decline over the past 24 hours, trading at $64,471 at the time of reporting, according to The Block’s data.

In other global ETF developments, Australia's largest stock exchange, ASX, introduced its first spot bitcoin ETF on Thursday. The VanEck Bitcoin ETF operates as a feeder fund, providing exposure to bitcoin by investing in the U.S.-listed VanEck Bitcoin Trust (HODL). This move by ASX reflects efforts to align with the growing momentum of crypto ETFs observed in the U.S. and Hong Kong since 2022.

Looking ahead, U.S. ETF issuers are actively preparing for the launch of the country's inaugural batch of spot ether funds. Following recent feedback from the Securities and Exchange Commission (SEC) on S-1 forms for ether ETFs, issuers are expected to submit amended forms by Friday, as reported by The Block earlier in the week. This development underscores ongoing efforts to expand ETF offerings in response to investor demand and regulatory clarity.

As the ETF landscape continues to evolve, particularly in the realm of digital assets, market participants and regulators alike are navigating new challenges and opportunities in the burgeoning crypto investment space.