Bitcoin exchange-traded funds (ETFs) are back in demand after a turbulent week that saw nearly $888 million in outflows from March 18-22. However, the latter four days of last week brought a striking reversal, with $860 million in fresh inflows almost entirely offsetting the previous week’s exodus.
Leading the charge on March 28th were the Fidelity Bitcoin ETF (FBTC), Bitwise Bitcoin Strategy ETF (BITB), Ark Bitcoin ETF (ARKB), and BlackRock Bitcoin Trust (IBIT). Excluding Grayscale’s GBTC, these are among the largest bitcoin ETF holders. Â
BlackRock’s IBIT ETF currently holds the most bitcoin of any publicly-traded fund at 252,011 BTC worth $17.8 billion. Fidelity’s FBTC is next with 143,742 BTC valued at $10.1 billion as of March 31st.
While Grayscale‘s GBTC continues experiencing outflows, shedding 7,454 BTC on March 28th alone, dollar inflows into other bitcoin ETFs point to renewed investor confidence in the world’s largest cryptocurrency.
The bullish rebound sets the stage for what may prove to be an interesting April for Bitcoin prices and digital asset funds. Investors will be watching closely for the next market catalyst.
Also Read: U.S. Cracks Down on Russian Crypto Sanctions Evasion
