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The eleven ETFs recorded $200 million in net outflows on Tuesday, the highest since May 1 figures of $580 million.

BlackRock’s IBIT was the only ETF posting a net inflow on Thursday, while most of the funds recorded outflows.

Grayscale’s GBTC saw $40 million in outflows, the most among its counterparts, while Bitwise’s BITB led inflows at $7.6 million.

New U.S. bitcoin ETFs have amassed $7.7 billion in funds since debut, offsetting the $6 billion outflows from incumbents, according to CoinShares data.

BlackRock’s IBIT accounted for most of the inflows at $1.1 billion, with zero net outflows from any product.

Inflows significantly accelerated last week, indicating increasing demand for new spot-based ETFs, CoinShares' head of research James Butterfill said.

They make the asset class "less of a scary concept" to mainstream audiences, bitcoin advocate Jameson Lopp said.

The exchange-traded funds will allow better access to bitcoin through regulated entities and draw institutional investors, but the crypto is still a very small asset class, CoinDesk was told.

The holdings of the U.S. spot bitcoin exchange-traded funds are about to cross over one million tokens after only ten months of trading.

Hopes are high they will lure more investors into crypto.