Spot Bitcoin ETFs Record $13.3 Million Net Inflow After Outflows
US-based spot Bitcoin ETFs experienced a net inflow of $13.3 million after a previous outflow of $1.28 billion. Key points include:
- ARK Invest’s ARKB fund led with an inflow of $82.6 million.
- Grayscale’s Mini Bitcoin Trust received $5.5 million.
- BlackRock’s IBIT faced a $47.1 million outflow for five consecutive days.
- Other funds such as Invesco’s BTCO and Grayscale’s GBTC recorded outflows of $12.4 million and $11.8 million, respectively.
- Total net inflows for spot BTC ETFs since January 2024 stand at $35.48 billion.
Bitcoin has been consolidating near $83,000 but recently dropped to $76,600, down 23% from its all-time high of $109,000 on January 20.
Ethereum Faces Continuous Outflows
Ethereum's spot ETFs reported a net outflow of $10.3 million on March 12, marking six days of losses. Highlights include:
- Total net inflow for ETH investment products is $2.65 billion.
- Current ETH trading price is $1,870, with a market cap of $225 billion.
- ETH is 61% below its all-time high of $4,891 from November 2021.
- ETH needs to surpass the $2,000 resistance level.