Key Points
- Spot bitcoin ETFs experienced a fourth consecutive day of net inflows, ending the month strongly.
- BlackRock’s iShares Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund saw the largest inflows.
Spot bitcoin exchange-traded funds (ETFs) saw a net positive inflow for the fourth day in a row, marking a strong end to the month.
The daily total net inflow for these ETFs in the U.S. was $183 million as of March 28, which brought the cumulative total net inflow to approximately $12.13 billion.
ETF Inflows and Outflows
The iShares Bitcoin ETF by BlackRock saw the highest net inflow of $95.12 million.
Following closely was the Fidelity Wise Origin Bitcoin Fund with a net inflow of $69.09 million.
Contrarily, the Grayscale Bitcoin Trust saw net outflows, with nearly $105 million leaving the product.
Performance of Spot Bitcoin ETFs
Since receiving approval earlier this year, spot bitcoin ETFs have been popular among investors.
However, volumes have been declining since peaking in early March, with cumulative volumes nearing $200 billion.
As of March 27, cumulative spot bitcoin ETF volumes reached $177.9 billion.
The assets under management and on-chain holdings of spot bitcoin ETFs have also steadied since peaking earlier in the month.
The price of Bitcoin is currently down by less than 1% on the day to $69,841.