Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month

March 29, 2024

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Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month

Flows into spot bitcoin exchange-traded funds remained net positive on Thursday for the fourth consecutive day — closing the month on a strong note.

The daily total net inflow for the spot bitcoin ETFs in the United States was $183 million as of March 28 — bringing the cumulative total net inflow to about $12.13 billion — according to data from SoSo Value.

BlackRock’s iShares Bitcoin ETF saw the largest net inflow of $95.12 million, while the Fidelity Wise Origin Bitcoin Fund brought in a net inflow of $69.09 million.

On the other hand, net outflows from the Grayscale Bitcoin Trust continued, with nearly $105 million leaving the product.

Spot bitcoin ETF metrics steady into the end of March

Spot bitcoin ETFs have proved popular since garnering long-awaited approval earlier this year.

However, volumes have steadily declined since peaking in early March as cumulative volumes march toward $200 billion. As of March 27, cumulative spot bitcoin ETF volumes reached $177.9 billion, per data from The Block.

Spot bitcoin ETF assets under management and on-chain holdings have also steadied since peaking earlier this month.

The bitcoin price is currently down less than 1% on the day to $69,841, according to The Block’s Price Page.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX’s former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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