Inflows into U.S. spot Bitcoin ETFs top $460M as market recovers
U.S. exchange-traded funds investing in spot Bitcoin recorded fresh inflows. On March 4, total net inflows into spot Bitcoin ETFs reached $461.9 million.
Bitcoin traded above $72,000 during the period, while ETF inflows continued for a third consecutive day.
Most Bitcoin ETFs recorded inflows
According to Farside Investors, U.S. spot Bitcoin ETFs attracted about $1.1 billion over the past week. Earlier, investors withdrew roughly $3.8 billion from the funds over a five-week period.
The largest inflow again went to BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $307 million in a single day.
It was followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $48 million in inflows and Grayscale Bitcoin Mini Trust (BTC) with $32 million.
Nearly all U.S. spot Bitcoin ETFs recorded inflows that day. The only exception was CoinShares Bitcoin ETF (BRRR), which saw no capital movement.
Bloomberg ETF analyst Eric Balchunas noted that most funds have returned to showing positive net inflows since the start of the year.
Which funds remain in the red
Several funds still show negative performance year-to-date. Among them is Fidelity FBTC, which has recorded about $1.1 billion in net outflows.
Outflows also persist in Grayscale Bitcoin Trust (GBTC) and ARK 21Shares Bitcoin ETF (ARKB), at approximately $648 million and $162 million, respectively.
Why investors watch ETF flows
The renewed inflows coincided with improving sentiment in the crypto market. The Crypto Fear and Greed Index rose from 10 to 22 points over the past 24 hours.
Spot Bitcoin ETFs began trading in the United States on Jan. 11, 2024, after approval from the U.S. Securities and Exchange Commission (SEC).
The largest fund in the market remains BlackRock’s iShares Bitcoin Trust (IBIT). Products from Fidelity and Grayscale also hold significant market shares.
Read also: Bitcoin surpasses $73,000 amid ETF inflows and a return to risk appetite
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