Ten Bitcoin ETF funds accumulated $198 million on Friday, marking a 71% decrease from the $683.7 million on March 13.
Inflows into Bitcoin ETF funds on Friday remained significantly lower compared to previous records amidst recent cryptocurrency market downturn.
This decline correlates with Bitcoin dropping to $65,000 yesterday. Well-known Chinese reporter, Colin Wu, shared interesting insights on X.
According to data from tracking sources, all 10 Bitcoin ETF funds accumulated $198 million yesterday. This number shows a significant decrease in capital inflows compared to previous figures.
For reference, the inflow of $198 million marks a 71% decrease from the $683.7 million recorded on March 13.Â
Despite the significant decrease in capital inflows, these investment funds are still striving to maintain a 10-day consecutive positive daily net flow. This is mainly driven by a significant $155 million influx into Fidelity’s FBTC ETF fund, as well as an observed $139 million influx into Grayscale Bitcoin Trust (GBTC).
Notably, Bitcoin ETF funds experienced a significant impact for the first time on March 14, only witnessing a $132.5 million positive daily net flow, marking an 80% decrease compared to the figure on March 13.
Furthermore, Thursday’s figure showed an 87% decrease in net inflows, compared to the record $1.045 billion on March 12.
Despite the decreasing trend in inflows, the market is still attempting to maintain a positive net flow. This indicates the continued demand for these investment products, especially Bitcoin.
BlackRock iShares Bitcoin Trust (IBIT) was the main contributor to Thursday’s positive flow. It recorded an impressive $345.4 million inflow, overshadowing other investment funds with significant returns.
