Investor confidence in Bitcoin ETFs surged this week, reversing a wave of recent withdrawals. Spot Bitcoin exchange-traded funds posted six consecutive days of inflows totaling $785.6 million, according to blockchain analytics firm Spot On Chain. BlackRock’s IBIT led the gains, absorbing over $535 million worth of Bitcoin since Monday.
On Friday, March 21, IBIT alone took in 1,250 BTC, valued at $105.5 million. The fund was the only Bitcoin ETF to record positive flows that day. By contrast, Grayscale’s GBTC shed 260.15 BTC, pushing total net flows for the day to 987.12 BTC. Adjusted for outflows across other funds, the week’s cumulative net inflows landed at $744.3 million.
IBIT continued to attract the highest capital among all Bitcoin ETFs. On March 20, it gained 1,980 BTC. Fidelity’s FBTC and VanEck’s HODL followed with 105.98 and 137.08 BTC, respectively. No other ETF matched BlackRock’s momentum throughout the week.
Weekly data compiled by Farside shows IBIT has accumulated $39.77 billion to date. Fidelity’s FBTC trails with $11.39 billion, while Bitwise’s BITB stands at $2.02 billion. GBTC remains the only major ETF in persistent decline, posting total net outflows of $22.53 billion since inception.
Despite broader ETF market fluctuations, BlackRock’s continued inflows reinforce its investor appeal. IBIT’s average daily net inflow is $133 million, with a peak of $1.12 billion. Its management fee is 0.25 percent.
While Bitcoin ETFs attracted inflows, Ethereum-based products recorded continued outflows. Over the same five-day period, ETH ETFs experienced $102.9 million in net outflows, marking 13 consecutive sessions of redemptions. Total ETH ETF withdrawals now stand at $389.2 million.
Blockchain tracking platform Whale Alert reported a large Bitcoin transfer worth over $252 million. The transaction moved 2,999 BTC from one unidentified wallet to another.
The purpose remains unclear, with no information available on the wallet owners. Reactions on social media were mixed, ranging from bullish speculation to questions about undisclosed ownership.
Bitcoin’s market price stood at $84,230 as of publication. ETF inflows and institutional movements have helped stabilize the asset following weeks of volatility. Trading data reflects investor re-engagement with regulated financial products tied to Bitcoin’s performance.
Spotonchain, which published the ETF inflow report on X, noted, “BTC ETFs have recorded 6 consecutive net inflows, totaling $785.6M.” It added that ETH ETFs “have seen 13 consecutive net outflows (2.5 weeks), totaling -$389.2M.”
