On March 12, Bitcoin ETFs saw a net inflow of $13.3 million, marking a significant turnaround after a seven-day period of outflows. This shift could influence Bitcoin’s short-term price trajectory and institutional interest in crypto assets.
Bitcoin ETFs Performance
Despite the overall net inflow, some major ETFs still experienced outflows, indicating mixed sentiment among institutional investors. BlackRock’s iShares Bitcoin Trust (IBIT) recorded an outflow of $47.05 million, while Fidelity Physical Bitcoin ETP (FBTC) remained stable with no inflows or outflows. Grayscale Bitcoin Trust ETF (GBTC) saw an outflow of $11.81 million. Conversely, ARK 21Shares Bitcoin ETF (ARKB) recorded an inflow of $82.6 million, leading the market. Smaller funds like BITB, HODL, and BRRR also recorded slight inflows.
Ethereum ETFs Challenges
While Bitcoin ETFs showed growth, Ethereum spot ETFs continued their negative streak, reporting a net outflow of $10.4 million on March 12. Notable movements include: ETHE (Grayscale Ethereum Trust ETF) saw an outflow of $3.54 million, while FETH (Fidelity Ethereum ETF) recorded a modest inflow of $3.75 million.
Market Analysis and Outlook
Analysts believe that institutional players are still evaluating macroeconomic conditions before making large ETF investments. James Butterfill from CoinShares noted: “While Bitcoin ETFs have seen renewed inflows, we need sustained momentum to confirm an upward trend.”
The recent inflow into Bitcoin ETFs may indicate renewed institutional interest, but the market remains volatile. Regulatory uncertainty and macroeconomic conditions play a critical role. Ethereum ETFs continue to face challenges, reflecting weak institutional interest.
