Strong inflows into ARK 21Shares, Fidelity Bitcoin ETFs end 8-day outflow streak
The US spot Bitcoin exchange-traded funds recorded a $94.3 million inflow on Feb. 28 — breaking eight consecutive days of outflows as Bitcoin made a partial recovery toward $85,000.
The ARK 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) led the way with $193.7 million and $176 million in net inflows respectively, Farside Investors data shows.
ARKB and FBTC’s combined $369.7 million inflow more than covered the $244.6 million outflow from BlackRock’s iShares Bitcoin Trust ETF (IBIT), while the Bitwise Bitcoin ETF (BITB) and the Grayscale Bitcoin Mini Trust ETF (BTC) saw $4.6 million and $5.6 million in net inflows.
The Bitcoin products issued by Invesco, Franklin, Valkyrie and WisdomTree registered “0” inflows on the day, while the VanEck Bitcoin ETF and Grayscale’s Bitcoin Trust ETF (GBTC) bled outflows.
Flows into the US spot Bitcoin ETFs since Feb. 18. Source: Farside Investors
While the eight-day streak was broken, the $94.3 million net inflow hardly caused a dent in the $3.26 billion in net outflows that occurred between Feb. 18 and 27.
Feb. 25 was the worst day ever with a record $1.13 billion in outflows for the US Bitcoin products.
The mass outflows coincided with a 17.6% fall in Bitcoin’s (BTC) price from Feb. 18 to a near four-month low of $78,940 on Feb. 28, CoinGecko data shows.
Bitcoin’s price has rebounded since then to $86,165.
Related: BlackRock adds BTC ETF to $150B model portfolio product
The shaky start to the year has resulted in the spot Bitcoin ETFs recording a net outflow of about $300 million since Jan. 10, 2025 — the date which marked the first anniversary of the Bitcoin products launching.
Despite the market fall, industry pundits such as Bitwise chief investment officer Matt Hougan have said now is the “best time in history” to buy Bitcoin while it hovers around the $80,000 to $90,000 range.
“This is the moment of greatest opportunity for crypto,” said Jake Chervinsky, chief legal officer at Variant, pointing to a more crypto-friendly regulatory environment and increasing TradFi interest.
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