There has been a shift in the flow of U.S. spot Bitcoin exchange-traded funds (ETFs) this week. Wednesday saw a return to positive net inflows, which followed significant withdrawals on Monday.

Inflows on Wednesday amounted to $113.5 million, exceeding Monday's net outflows of $87.5 million. Fidelity's FBTC spot Bitcoin ETF attracted $116.7 million, leading the inflows, followed by BlackRock's IBIT fund with $42 million.

Bitwise's BITB product ranked third with $23 million in inflows on Wednesday, bringing the total net inflows for the week to $12.2 million. Fidelity's FBTC manages about 150,000 BTC (approximately $10 billion), while BlackRock's IBIT handles 256,000 BTC (around $17 billion).

On the other hand, Grayscale's GBTC fund experienced a decline, dropping from approximately 619,000 BTC to 328,000 BTC (valued at $22 billion). GBTC's fee of 1.5% is higher than the fees of FBTC and IBIT, set at 0.25%.

While GBTC had significant outflows of $302.6 million on Monday, the outflows decreased to $81.9 million on Tuesday and $75.1 million on Wednesday. The sale of 35.9 million GBTC shares by Genesis Global Holdco LLC earlier this month may have contributed to the selling pressure.

Overall flows into spot Bitcoin ETFs have also slowed down, decreasing from a peak of $1.05 billion in net inflows per day on March 12. Trading volume for spot Bitcoin ETFs surged in March, tripling February's total to over $111 billion. However, daily trading volume has been declining since reaching a record high of $9.9 billion on March 5.

Despite recent fluctuations, Bitcoin remains strong, currently trading at $66,234 with a year-to-date increase of 57%, even though it dropped 6% last week.

*This is not investment advice.