U.S.-listed spot bitcoin ETFs ended March with $1.32 billion in net inflows to register their first monthly inflows since October, SoSoValue data shows.
This follows four consecutive months of net outflows, which coincided with bitcoin falling as much as 50% from its October record of $126,000.
November saw $3.5 billion in outflows, followed by $1.1 billion in December, $1.6 billion in January and $206 million in February.
March also marked bitcoin’s first positive monthly candle in six months, suggesting a potential shift in momentum.
However, ETF assets under management have remained relatively resilient. Holdings fell from 1.38 million BTC in October to a low of 1.28 million BTC, a drop of around 7%, and have since recovered to around 1.31 million BTC, according to CheckonChain.
ETF investors, on average, remain underwater with an estimated cost basis near $84,000, compared to a current spot price of about $68,000.
