Spot bitcoin ETFs break five-day outflow streak

Quick Take

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

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 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.