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Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month

Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month

The BlockThe Block2024/03/29 08:06
By:Adam James

The daily total net inflow for the spot bitcoin ETFs in the United States was $183 million as of March 28.The cumulative total net inflow has reached approximately $12.13 billion.Net outflows from the Grayscale Bitcoin Trust continued, with nearly $105 million leaving the product.

Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month image 0Flows into spot bitcoin exchange-traded funds remained net positive on Thursday for the fourth consecutive day — closing the month on a strong note.

The daily total net inflow for the spot bitcoin ETFs in the United States was $183 million as of March 28 — bringing the cumulative total net inflow to about $12.13 billion — according to data from SoSo Value.

BlackRock's iShares Bitcoin ETF saw the largest net inflow of $95.12 million, while the Fidelity Wise Origin Bitcoin Fund brought in a net inflow of $69.09 million.

On the other hand, net outflows from the Grayscale Bitcoin Trust continued, with nearly $105 million leaving the product.

Spot bitcoin ETF metrics steady into the end of March

Spot bitcoin ETFs have proved popular since garnering long-awaited approval earlier this year.

However, volumes have steadily declined since peaking in early March as cumulative volumes march toward $200 billion. As of March 27, cumulative spot bitcoin ETF volumes reached $177.9 billion, per data from The Block.

Spot bitcoin ETF assets under management and on-chain holdings have also steadied since peaking earlier this month.

The bitcoin price is currently down less than 1% on the day to $69,841, according to The Block's Price Page .

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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