On March 18th, U.S. spot Bitcoin ETFs experienced a net outflow of $163.5 million, ending a streak of seven consecutive trading days with inflows. This comes after Bitcoin's price had briefly surged past $75,000, only to fall back below $71,000 this week. Notably, this shift in fund flows occurred just as these ETF products were on the verge of achieving a cumulative net inflow for the year, with only $100 million separating them.
Spot Bitcoin ETFs End Seven-Day Inflow Streak
Market Weakness Extends Beyond Bitcoin
Bitcoin was not the only cryptocurrency affected. Spot Ethereum ETFs also saw outflows, with a net outflow of nearly $55.7 million on the same day. Specifically, FETH recorded an outflow of $37.1 million, and ETHE saw an outflow of $8.9 million.