U.S. spot bitcoin exchange-traded funds (ETFs) have witnessed a notable turnaround, with four consecutive days of positive inflows countering a previous week marked by significant outflows totaling $887.6 million.
From March 18 to March 22, 2024, these ETFs experienced a downturn, witnessing net outflows reaching nearly $888 million. However, recent data from March 25 to March 28 reveals a resurgence, as positive inflows have nearly offset the prior losses, totaling $859.7 million.
On March 28, FBTC, BITB, ARKB, and IBIT spearheaded the resurgence in U.S. spot bitcoin ETF inflows. Notably, these ETFs, excluding Grayscale’s GBTC, are among the top holders of bitcoin (BTC) reserves. Blackrock’s IBIT leads in BTC reserves, boasting 252,011.41 BTC valued at approximately $17.77 billion as of Sunday.
Following closely, Fidelity’s FBTC holds the second-largest reserve with 143,742.55 BTC valued at $10.13 billion on March 31. Ark Invest’s ARKB and Bitwise’s BITB ETFs possess 44,277 BTC worth $3.12 billion and 31,680.15 BTC valued at $2.23 billion, respectively. Grayscale’s Bitcoin Trust (GBTC) currently secures 335,153.86 BTC, estimated at $23.6 billion on Sunday.
In the 24 hours leading up to the close of trading on March 28, GBTC’s holdings reduced to 342,607.61 BTC, indicating a divestiture of 7,453.75 BTC worth $525 million during that period. GBTC has observed negative outflows in every trading session, with BTCO also experiencing a 24-hour negative outflow on March 20.
