Bitcoin ETFs pull $568M in first-week March inflows despite BTC dip

Bitcoin spot ETFs recorded $568.45 million in net inflows for the week ending March 6 and were the second consecutive week of positive flows.

Three days of strong buying from March 2-4 totaling $1.15 billion offset outflows on March 5-6 that drained $576.66 million, leaving the week with net positive flows.

Bitcoin (BTC) traded below $67,000 after dropping 2% over 24 hours, while total net assets for Bitcoin ETFs reached $87.07 billion.

March 2-4 buying wave brings $1.15 billion before reversal

March 2 and March 4 posted nearly identical inflows of $458.19 million and $461.77 million respectively, bracketing March 3’s $225.15 million in positive flows.

The three-day streak brought $1.15 billion into Bitcoin ETF products. March 5 recorded $227.83 million in outflows, followed by March 6’s larger $348.83 million in redemptions.

The two-day withdrawal period removed just under half of the prior three days’ gains but left the week with $568.45 million in net inflows.

Weekly trading volume reached $25.87 billion for the period ending March 6, up from $15.99 billion during the week ending February 27.

Total net assets climbed from $83.40 billion on February 27 to $87.07 billion on March 6.

Ethereum posts modest $23.56 million in weekly inflows

Ethereum spot ETFs recorded $23.56 million in net inflows for the week ending March 6, down sharply from the prior week’s $80.46 million.

March 4 posted the strongest single-day performance at $169.41 million before two consecutive days of heavy outflows.

March 5 saw $90.94 million in redemptions, followed by March 6’s $82.85 million in outflows.

The two-day withdrawal period nearly wiped out March 4’s gains. March 2 added $38.69 million in inflows while March 3 posted a modest $10.75 million in outflows.

Total net assets for Ethereum products reached $11.28 billion with cumulative total net inflow at $11.63 billion. Ethereum price also traded below $1,900 after the 2% daily decline.