Spot bitcoin ETFs break five-day outflow streak

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The Block2024/03/26 08:16

By:Adam James

Spot bitcoin exchange-traded funds experienced a total net inflow yesterday.Fidelity’s FBTC received the highest single-day net inflow.

Spot bitcoin ETFs break five-day outflow streak image 0

After five consecutive days of outflows, spot bitcoin exchange-traded funds (ETFs) experienced a total net inflow yesterday.

The net inflow into spot bitcoin ETFs on Monday totaled $15.7 million, according to data from SoSo Value.

This follows consecutive single-day outflows of as much as $326.2 million, which occurred on March 19, per The Block's data.

Fidelity's FBTC received the highest single-day net inflow of approximately $261 million, per SoSo Value. BlackRock's IBIT, meanwhile, saw an inflow of roughly $35.5 million. Grayscale's GBTC, on the other hand, experienced a single-day net outflow of $350 million.

The fervor for spot bitcoin ETFs has relaxed somewhat in recent days compared to the full-blown mania experienced when the products first went to market.

Spot bitcoin ETFs' assets under management — excluding GBTC — have plateaued over the past two weeks, sitting at around $30.62 billion.

Spot bitcoin ETF volumes have also decreased steadily from their early March peak of nearly $10 billion. On Friday, $3.1 billion in volumes was recorded.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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