The U.S. spot Bitcoin exchange-traded funds (ETFs) finally saw a positive turn on February 28, recording a net inflow of $94.3 million. This marks the end of an eight-day stretch of outflows, aligning with Bitcoin’s partial rebound toward the $85,000 mark.
Leading the charge were ARK 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC), which brought in $193.7 million and $176 million, respectively, according to data from Farside Investors.
Together, ARKB and FBTC’s combined $369.7 million inflow offset the $244.6 million outflow from BlackRock’s iShares Bitcoin Trust ETF (IBIT). Meanwhile, the Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Mini Trust ETF (BTC) reported smaller net inflows of $4.6 million and $5.6 million, respectively.
On the other hand, Bitcoin ETFs from Invesco, Franklin, Valkyrie, and WisdomTree saw no inflows that day, while VanEck Bitcoin ETF and Grayscale’s Bitcoin Trust ETF (GBTC) experienced continued outflows.
Breaking the Streak, but Challenges Remain
Although the streak of consecutive outflows has been broken, the $94.3 million in net inflows barely makes a dent in the $3.26 billion in net outflows recorded between February 18 and 27. The worst single day occurred on February 25, when U.S. Bitcoin ETFs saw a record-breaking $1.13 billion in outflows.
Bitcoin’s price took a hit during this period, dropping by 17.6% from February 18, reaching a near four-month low of $78,940 on February 28, according to CoinGecko. However, Bitcoin has since bounced back, now trading at around $86,165.
Market Outlook and Expert Opinions
Despite the recent volatility, some industry experts remain optimistic. Bitwise’s Chief Investment Officer, Matt Hougan, believes this is one of the best times in history to buy Bitcoin, especially while prices fluctuate between $80,000 and $90,000.
Jake Chervinsky, Chief Legal Officer at Variant, echoes this sentiment, highlighting an increasingly favorable regulatory environment and rising interest from traditional financial institutions.
While the start of 2025 has been rocky for Bitcoin ETFs—recording a net outflow of about $300 million since January 10—many in the industry see this as an opportunity rather than a setback.