The figure capped an eight-day streak of outflow during which investors pulled over $3.2 billion from these funds as digital asset prices fell.
U.S. exchange-traded funds (ETFs) that track bitcoin recorded net inflows of $94.3 million on Friday, marking the last day of February and also the ninth day of a ten-day rolling total.
The figure capped an eight-day streak of outflow during which investors pulled over $3.2 billion from these funds as digital asset prices fell.
BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, was one of the outliers that saw a large outflow with $244.6 million exiting the fund on Friday. Meanwhile, other large ETFs, including Fidelity’s FBTC, brought in $176 million from investors, while the ARK 21Shares Bitcoin ETF saw the largest inflows with $193.7 million entering the fund, according to Farside Investors data.
The inflows came as the cryptocurrency market started showing signs of recovery after the price of bitcoin hit a $78,000 low in the early hours of February 28. Bitcoin is now trading around $84,900 after rising 1.6% in the last 24 hours, while the broader CoinDesk 20 Index rose 0.3% to 2,705.
Over the past week, BTC is still down by roughly 12%, while the broader crypto market, as measured by the CoinDesk 20 Index, fell by 15.8%. Spot bitcoin ETFs had been enduring a significant outflow streak since February 14, a day in which these funds saw $66.2 million inflows.
Spot ether ETFs, on the other hand, have maintained an ongoing outflow streak on the last day of February, with $41.9 million leaving these funds. Since their last day with a positive net flow, $357.5 million exited these funds, according to data from Farside.
The recent market recovery comes as the White House announced that U.S. President Donald Trump will host a crypto summit on March 7 and after the world’s largest asset manager, BlackRock, added a 1% to 2% allocation of its spot bitcoin ETF to one of its model portfolios.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
