U.S. spot Bitcoin ETFs record first day of net positive inflows after shedding $20 billion in overall value

U.S.-based spot Bitcoin ETFs broke their 8-trading-day streak of net outflows on Friday, adding $94 million worth of net inflows. 

The inflows were led by Ark and 21Shares' ARKB fund, which netted $194 million in inflows, and Fidelity's FBTC, which netted $176 million in inflows. 

However, the funds' gains were offset by continued outflows from BlackRock's IBIT fund, which set a single-day outflow record on Wednesday . IBIT saw net negative outflows over each of the past 5 trading days, shedding $244.5 million on Friday, bringing its total outflows to the week to $1.175 billion. 

Despite the outflows, IBIT still has more than double the assets under management (AUM) of Fidelity's FBTC, the second-biggest such fund, according to The Block's data. 

Overall, given the outflows and the recent declines in price of Bitcoin, the spot ETFs currently hold about $95 billion in overall value — about $20 billion less than their value on February 20, according to SoSoValue data . 

"While Bitcoin trades relatively well within the digital asset complex, it is now caught up in the Solana meme coin-driven selloff and now the broader risk-off nature of markets," Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick said last week .