Bitcoin ETFs Record $117.63M Inflow as BTC Reclaims $69K

On March 31st, the U.S.-traded spot Bitcoin exchange-traded funds (ETFs) netted a total inflow of $117.63 million. According to data from SoSoValue, BlackRock’s IBIT led the inflow with $98.42 million, equivalent to 1,450 BTC.

Interestingly, spot Ethereum ETFs also saw an inflow of $31.2 million in ETH. This marked the highest inflow record the fund has seen since March 17th.

Bitcoin ETFs Welcome Over $117M

Following the latest inflow into BlackRock’s IBIT, it now has $63.2 billion in net inflows. This solidifies its leading position among all U.S.-focused Bitcoin ETF issuers.

Aside from BlackRock, other ETF issuers that saw inflows into their bitcoin-based fund include Fidelity (FBTC), Bitwise (BITB), and Ark & 21Shares (ARKB). These firms netted inflows worth $16.24 million (239.47 BTC), $1.84 million (27.16 BTC), and $1.13 million (16.59 BTC), respectively.

The remaining eight Bitcoin ETF issuers recorded no flows for March 31st.

Notably, the latest inflow record coincides with BTC’s resurgence from yesterday’s $66,000 price level. Investors accumulated funds representing the apex coin despite the price drop at the time. Earlier today, bitcoin soared above $69,000 before rebalancing at $68,500 at the time of writing.

Ethereum ETFs Record $31.2M Inflow

March ended on a positive note for spot Ethereum ETFs after several outflows. Yesterday, it raked in $31.2 million through five ETH-based funds.

BlackRock’s ETHA led the inflow record with $24.7 million, representing 11,780 ETH. 21Shares’ TETH saw the second-largest inflow of 1,250 ETH (worth $2.62 million). The next two inflows came from Fidelity’s FETH and Bitwise’s ETHW. They soaked in 747.72 ETH (worth $1.57 million) and 572.54 ETH (worth $1.2 million), respectively.

BlackRock’s ETHB saw the least inflow of 514.45 ETH (worth $1.08 million). Recall that this is BlackRock’s recently launched staked Ethereum ETF that allows investors to gain exposure to the cryptocurrency’s staking model. They receive monthly dividends, making the offer lucrative for holders. Notably, the day after its debut, the fund saw an inflow of over $15 million, indicating investor interest in the staking service.

Meanwhile, ETH’s price has begun to gradually pick up from its lows below $2,000. At the time of writing, it sold for $2,100, representing an impressive 6% increase over the past 24 hours.

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