Once upon a time, in the land of Wall Street, nearly all the United States spot Bitcoin exchange-traded funds (ETFs) decided to take a nosedive in March. Analysts, with their crystal balls and tea leaves, predicted a bearish Bitcoin trend that could last up to 12 months. 🐻📉
Farside Investors, the ever-watchful guardians of financial data, revealed that spot Bitcoin ETFs were having a rough time. Net outflows were stomping all over their monthly net inflows like a herd of elephants in a china shop. BlackRock’s iShares Bitcoin Trust ETF (IBIT) took the hardest hit, with outflows of a whopping $552 million and inflows of a measly $84.6 million. 💸😬
Fidelity’s Wise Origin Bitcoin Fund (FBTC) wasn’t faring much better, with outflows of over $517 million and inflows of only $136.5. Grayscale’s Bitcoin Trust ETF (GBTC) also joined the pity party, with outflows of over $200 million and zero inflows. 🎉📉
But wait! There was one shining star in this dark, gloomy sky. Grayscale’s Bitcoin Mini Trust ETF (BTC) defied the trend with zero net outflows and over $55 million in net inflows. Huzzah! 🌟🚀
Overall, the spot Bitcoin ETFs combined had outflows of over $1.6 billion in the first 17 days of March and recorded only $351 million in inflows. This wasn’t enough to offset the losses, bringing the net outflow to nearly $1.3 billion. 💰📉
Meanwhile, Ether-based investment products were also having a rough go of it. BlackRock’s iShares Ethereum Trust ETF (ETHA) had the most outflows, reaching $126 million, but it did not record any monthly inflows. Fidelity’s Ethereum Fund (FETH) recorded outflows of about $73 million but only had $21 million in inflows. 🐋📉
Ether ETFs had negative results throughout March, except for March 4, when inflows reached $14 million. However, spot Ether ETFs performed poorly in the rest of March, with over $300 million in total outflows. 📉💸
The performance of crypto exchange-traded products comes as sentiments for Bitcoin and the crypto market turn bearish. On March 18, CryptoQuant founder and CEO Ki Young Ju declared, “The Bitcoin bull cycle is over.” The executive expects up to a year of bearish or sideways price action. Ju argued that onchain metrics indicate a bear market. The executive said that new whales are selling low as liquidity dries up. 🐋📉
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2025-03-18 12:21