Spot Bitcoin Exchange-Traded Funds See Net Inflow Following Five Days of Outflows
Spot Bitcoin exchange-traded funds (ETFs) experienced net inflows yesterday, breaking a streak of five consecutive days of outflows.
According to data from SoSo Value , spot Bitcoin ETFs saw a net inflow of $15.7 million on Monday.
This reversal follows a series of single-day outflows last week.
The largest outflows occurred on March 19 and March 20, with $326 million and $262 million leaving the funds, respectively.
However, the pace of net outflows gradually slowed down later in the week, with $94 million withdrawn on Thursday and $52 million on Friday.
Among the major players in the market, Fidelity’s FBTC stood out with the highest single-day net inflow of approximately $261 million, as reported by SoSo Value.
BlackRock’s IBIT also fared well, witnessing an inflow of roughly $35.5 million.
However, Grayscale’s GBTC experienced a single-day net outflow of $350 million.
The fervor surrounding spot Bitcoin ETFs has somewhat subsided in recent days, compared to the initial excitement that accompanied their market debut.
Bitcoin ETF Flow – 25 March 2024
All data in. Net inflow day after outflows last week pic.twitter.com/Zk3EQE3Hws
— BitMEX Research (@BitMEXResearch) March 26, 2024
Over the past two weeks, the assets under management of spot Bitcoin ETFs, excluding GBTC, have plateaued at around $30.62 billion.
The recent net inflow into spot Bitcoin ETFs indicates renewed investor interest and confidence in these investment vehicles.
Despite the temporary decline in popularity, the overall market sentiment remains positive, with investors recognizing the potential of Bitcoin as a valuable asset.
The price of Bitcoin has surged above the $71,000 mark following news that the London Stock Exchange plans to
