Spot Bitcoin Exchange-Traded Funds (ETFS) in the United States experienced $ 94.3 million of total influx on the last day of February when Crypto’s worst month of three years ended.
The figure closed an eight-day line of outflow, with investors dragging over $ 3.2 billion from these funds as the digital asset prices fell.
Blackrocks Ishares Bitcoin Trust (Ibit), the biggest spot of Bitcoin Etf of assets under management, was one of the Outliers who saw $ 244.6 million in outflow on Friday. Meanwhile, other major ETFs brought in, including Fidelity’s FBTC, $ 176 million from investors, while Ark 21shares Bitcoin Etf saw the largest influx, which brought $ 193.7 million, according to Farside Investor’s data.
The influx came when the cryptocurrency market began to show signs of recovery after the price of Bitcoin hit a $ 78,000 low in the early hours of February 28. Bitcoin now trades about $ 84,900 after an increase of 1.6% in the last 24 hours, while the wider Coindesk 20 -Index rose 0.3% to 2,705.
Over the past week, BTC is still down with approx. 12%, while the wider crypto market, measured by the Coindesk 20 index, fell by 15.8%. Spot Bitcoin ETFs had been lasting with a significant outflow since February 14, a day when these funds saw $ 66.2 million influx.
Spot Ether ETFs, on the other hand, maintained a running outflow trim on the last day of February, with $ 41.9 million leaving these funds. Since their last day with a positive net stream, $ 357.5 million left these funds, according to Data from Father Side.
The recent recovery of the market is coming when the White House announced that US President Donald Trump will host a crypto summit on March 7, and after the world’s largest asset manager, Blackrock, added a 1% to 2% award of his spot Bitcoin Etf to one of its model portfolios.
Read more: Blackrocks Bitcoin ETF looks record daily outflow as the basic trade begins to relax