U.S. spot bitcoin exchange-traded funds saw net outflows on Monday after the funds reported a weekly outflow of $580 million last week.

The 11 bitcoin ETFs posted a total net outflow of $145.83 million, led by Fidelity’s FBTC, which shed $92 million on Monday, according to data from SoSoValue. FBTC, which typically reports sizable net inflows, saw net outflows of around $140 million last week.

Ark Invest and 21Shares’ ARKB followed with net outflows of $50 million, while Grayscale’s GBTC and VanEck’s HODL also recorded negative flows of around $4 million. The only net inflows, though minimal, came from Bitwise’s BITB, totaling $3 million. BlackRock's IBIT, the largest spot bitcoin ETF in terms of net asset value, posted zero flows yesterday.

The net outflows brought the cumulative total net inflows of spot bitcoin ETFs down to $14.96 billion, SoSoValue’s data showed.

Spot bitcoin ETFs in the U.S. were on their longest streak of net inflows until last week, after the conflicting U.S. non-farm payroll data and unemployment data led to investor uncertainty and exodus from riskier assets.

Larger amounts of net outflows last week were centered around the Federal Open Market Committee meeting on Wednesday, which maintained the country’s current interest rate of 5.25% to 5.50%. While investors had hoped for several rate-cuts this year, the Fed indicated that there would only be one interest rate reduction in 2024.

Digital asset manager CoinShares suggested in a Monday report that the “more hawkish-than-expected” FOMC meeting led investors to reduce their stake in fixed-supply assets.

Bitcoin’s price, which neared $72,000 prior to the release of U.S. economic numbers, gradually moved down to its current level of $65,490 at the time of publication, according to The Block’s bitcoin price page. It was down 1% over the past 24 hours.