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.
The US-based spot Bitcoin BTC $85 851 24h volatility: 1.3% Market cap: $1.70 T Vol. 24h: $28.34 B ETFs started to see inflows while the Ethereum ETH $1 642 24h volatility: 0.2% Market cap: $198.16 B Vol. 24h: $13.39 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.
Ethereum Loses Back-to-Back Battles
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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