Bitcoin ETFs Experience First Monthly Inflows Since October
- U.S. listed spot bitcoin ETFs recorded $1.32 billion in net inflows in March.
- This marks the first monthly inflows since October, following four months of consecutive outflows.
- Outflows totaled $3.5 billion in November, $1.1 billion in December, $1.6 billion in January, and $206 million in February.
- March also saw bitcoin’s first positive monthly candle in six months, indicating a potential shift in momentum.
- ETF assets under management decreased from a high of 1.38 million BTC to a low of about 1.28 million BTC before recovering to around 1.31 million BTC.
- Investors remain underwater on average with a cost basis near $84,000 compared to the current spot price of approximately $68,000.
The recent inflows into ETFs suggest renewed interest as bitcoin stabilizes after significant declines from its peak of $126,000 last October.
With March’s inflow of $1.32 billion marking a turnaround for bitcoin ETFs after months of outflows, the total assets under management have rebounded slightly to around bitcoin holdings of approximately 1.31 million BTC.
