Spot Bitcoin exchange-traded funds in the US finally broke their billion-dollar outflows with mild gains while the Ethereum ETFs continue their outflow streak.
By Wahid Pessarlay
Updated
2 mins read
The US-based spot Bitcoin BTC $84 441 24h volatility: 0.8% Market cap: $1.68 T Vol. 24h: $26.00 B ETFs started to see inflows while the Ethereum ETH $1 623 24h volatility: 1.4% Market cap: $195.92 B Vol. 24h: $11.01 B investment products struggled with consecutive outflows again.
Spot BTC ETFs recorded a net inflow of $13.3 million for the first time after witnessing a net outflow of $1.28 billion over the past week, according to data from Farside Investors.
ARK Invest’s ARKB fund led the investment products with an inflow of $82.6 million, followed by the $5.5 million inflow into the Grayscales Mini Bitcoin Trust. BlackRock’s IBIT saw an outflow of $47.1 million for the fifth consecutive trading day.
Invesco’s BTCO, Grayscale’s GBTC and WisdomTree’s BTCW also recorded $12.4 million, $11.8 million and $3.5 million in outflows, respectively.
Notably, the last time that spot BTC ETFs saw an inflow of over $100 million was 7 Feb.
These investment products have recorded a net inflow of $35.48 billion since their launch in January 2024, per the Farside data.
The inflows come as Bitcoin has been consolidating close to the $83,000 mark over the past day. On March 11, the leading crypto asset dropped to a local low of $76,600 for the first time since the US elections hype in November 2024.
At this point, Bitcoin is down by 23% from its all-time high of $109,000 on 20 Jan.
The second-largest cryptocurrency Ethereum has been struggling to gain bullish momentum since breaking the $4,000 barrier in December 2024.
Spot ETH ETFs in the US recorded a net outflow of $10.3 million on 12 March, marking six days of back-to-back losses, according to Farside Investors. These investment products have registered a total net inflow of $2.65 billion so far.
Ethereum is currently trading at $1,870 with a market cap of $225 billion. The leading altcoin is 61% away from its ATH of $4,891 in November 2021. Now ETH needs to break the $2,000 psychological resistance mark.
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Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.