Bitcoin ETFs see $94.3 million inflow
On February 28, U.S. spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) saw a combined inflow of $94.3 million, breaking an eight-day streak of net outflows.
This inflow occurred as Bitcoin partially recovered to around $85,000.
ARK 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) led the way, with net inflows of $193.7 million and $176 million, respectively.
The Bitwise Bitcoin ETF (BITB) and the Grayscale Bitcoin Mini Trust ETF (BTC) also saw inflows, with $4.6 million and $5.6 million, respectively.
However, ETFs from Invesco, Franklin, Valkyrie, and WisdomTree had zero inflows, while the VanEck Bitcoin ETF and Grayscale’s Bitcoin Trust ETF (GBTC) experienced outflows.
The $94.3 million inflow did not offset the $3.26 billion in net outflows that occurred from February 18 to 27.
February 25 was the worst day, with a record $1.13 billion in outflows from U.S. Bitcoin products.
This period of outflows coincided with a 17.6% drop in Bitcoin's price, which fell to a near four-month low of $78,940 on February 28.
Since then, Bitcoin's price has rebounded to $86,165.
Since January 10, 2025, the spot Bitcoin ETFs have recorded a net outflow of approximately $300 million.
Despite the market downturn, Bitwise chief investment officer Matt Hougan stated that now is the "best time in history" to buy Bitcoin.
Jake Chervinsky, chief legal officer at Variant, pointed to a more favorable regulatory environment and increasing TradFi interest as positive factors.
At the time of reporting, the Bitcoin (BTC) price was $92,823.44.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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