Fresh funds are pouring back into US Bitcoin exchange-traded funds (ETFs) after a period of net outflows. The recently approved Bitcoin ETFs, including those from Blackrock and Fidelity, saw a combined net inflow of $418 million on March 26, according to data from Farside Investors. Fidelity’s fund experienced its largest daily inflow since March 13, with $279.1 million, while BlackRock’s fund attracted inflows of $162.2 million. Other funds, such as Ark 21Shares Bitcoin ETF, Invesco Galaxy, Franklin Templeton, and Valkyrie, also saw significant inflows. However, Grayscale’s Bitcoin Trust (GBTC) continued to experience outflows. Since converting to an ETF, Grayscale has lost 277,393 BTC worth approximately $19.5 billion. Bloomberg senior ETF analyst Eric Balchunas highlighted the strong performance of Bitcoin ETFs, with four of them making the list of the largest 30 asset funds in their first 50 days of trading. Hashdex, a crypto asset management firm, also joined the US Bitcoin ETF market on March 26.
Bitcoin ETFs rebound with $418M in net inflows, returning to profitability