- All ten Bitcoin ETFs collectively amassed $198 million in inflows on Friday.
- The figure marks a 71% decline from the $683.7 million recorded on March 13.
- This inflow was primarily propelled by the $155 million into Fidelity’s ETF FBTC.
Friday’s inflows to Bitcoin spot exchange-traded funds (ETFs) remain significantly lower than previous records amid the crypto market’s recent bearish volatility. This downturn correlated with Bitcoin’s recent nosedive to within the $65,000 threshold yesterday. Prominent Chinese reporter Colin Wu called attention to the development in a recent post on X.
According to data from tracking resources, all ten Bitcoin ETFs collectively amassed $198 million in inflows yesterday. The figure represents a substantial drop from previous inflow volumes. To put it into perspective, the $198 million inflow marks a 71% decline from the $683.7 million recorded on March 13.
Despite this notable reduction in inflows, these investment vehicles managed to sustain a streak of positive daily net flows for the tenth consecutive day on March 15. This inflow was primarily propelled by the substantial capital influx of $155 million into Fidelity’s ETF FBTC, unlike the negative flow of $139 million observed with Grayscale Bitcoin Trust (GBTC).
Notably, Bitcoin spot ETF inflows first took a significant hit on March 14, as they only saw a $132.5 million positive flow, which marked an 80% decline from the March 13 figure. Furthermore, the Thursday figure signifies an 87% slump from the record-setting daily net inflow of $1.045 billion witnessed just a day earlier, on March 12.
Interestingly, despite the downward trend in capital flows since the peak, the market has managed to sustain these inflows. This indicates a persistent demand for these investment products and, by extension, Bitcoin.
The BlackRock iShares Bitcoin Trust (IBIT) was the primary contributor to Thursday’s positive flow. It recorded an impressive $345.4 million inflows, overshadowing other investment vehicles by a significant margin.
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