TLDR

  • U.S. Bitcoin ETFs saw back-to-back inflows for the first time in roughly a month.
  • Bitcoin’s price rebound from $60,000 to $70,000 aligned with the ETF inflows.
  • The total assets under management in Bitcoin ETFs dropped by only 7% since October.
  • The Grayscale Bitcoin Mini Trust ETF posted the highest single-day inflow of $131 million.
  • BlackRock’s Bitcoin ETF recorded the largest outflow of $20.854 million on Monday.

For the first time in about a month, U.S. Bitcoin ETFs registered consecutive inflows, ending a stretch of redemptions that had lasted since mid-January. These funds saw a $471.1 million inflow on Friday, followed by an additional $144.9 million on Monday. This uptick coincides with bitcoin’s recovery from a low of $60,000 to approximately $70,000, pointing to renewed investor confidence in the cryptocurrency.

Bitcoin ETFs Post Resilient Asset Growth

The market’s recent shift came after peaking near $98,000 in mid-January, then falling to $60,000. This decline prompted investors to withdraw millions from spot ETFs, which had surged earlier in the month. Despite the volatility, the total assets under management (AUM) in these funds remain robust, highlighting ongoing belief in bitcoin’s long-term prospects.

Data shows the combined AUM of 11 Bitcoin ETFs has decreased by just 7% since October, moving from 1.37 million BTC to 1.29 million BTC. Bitcoin, however, has dropped by more than 40% since its all-time high of over 126,000 BTC in October. These figures reflect a continued trust in the asset’s long-term value despite short-term price swings.

Grayscale Bitcoin Mini Trust ETF Takes the Lead

The Grayscale Bitcoin Mini Trust ETF (BTC) recorded the largest single-day inflow on Monday, bringing in $131 million. This pushes its historical total net inflow to $2.071 billion. BTC’s performance underscores demand for bitcoin-backed funds, even as the broader market experiences volatility.

Following BTC, the Ark Invest and 21Shares ETF (ARKB) saw a daily net inflow of $14.087 million. ARKB’s total net inflow has now exceeded $1.488 billion. Both funds have stayed appealing to investors, reflecting confidence in the future of bitcoin ETFs despite recent market dips.

BlackRock ETF Sees Outflows

In contrast, the BlackRock Bitcoin ETF (IBIT) faced the highest outflow on Monday, losing $20.854 million. Despite this, IBIT’s historical net inflow remains strong, totaling $61.82 billion. The outflow from IBIT highlights varying investor preferences across different Bitcoin ETFs, with some funds performing better than others in a fluctuating market.

As of now, the total net asset value (NAV) of U.S. Bitcoin spot ETFs stands at $90.053 billion. This represents 6.37% of Bitcoin’s total market cap. With a cumulative historical net inflow of $54.834 billion, the Bitcoin ETF market continues to display resilience, even amid short-term price corrections.