Since the January 2024 launch of Bitcoin spot ETFs, the market has reversed course after the largest-ever outflows, with a clear upturn in recent days. Following a cumulative net withdrawal of $8.9 billion, the past five trading days have seen $1.5 billion flow back in, underscoring a gradual restoration of investor confidence.
As the largest Bitcoin ETF, BlackRock’s iShares Bitcoin Trust (IBIT) sold down more than 42,000 BTC during the liquidation wave, with holdings plummeting from a peak above 806,000 BTC. Today, IBIT is leading the inflows, drawing $263 million on March 2 alone and $882 million for the week—far outpacing other products.
Other flagship ETFs are also recovering: Fidelity’s FBTC has absorbed $156 million this week, Bitwise’s BITB $148 million, and even the long-running net outflow stalwart Grayscale GBTC registered $102 million of weekly inflows. Among the initial ten spot Bitcoin ETFs launched, the vast majority have now flipped to net positive capital flow.
From a monthly perspective, outflows have sharply decelerated: $3.47 billion in November, $1.09 billion in December, $1.6 billion in January, and just $206 million in February—a 94% drop. To date, total assets under management for Bitcoin spot ETFs have reached $88.4 billion, with cumulative net inflows of $55.4 billion since launch, signaling renewed appetite for long-term Bitcoin allocations.