US spot bitcoin ETFs post largest daily net inflows in six weeks, worth $274 million

U.S. spot bitcoin exchange-traded funds recorded $274.6 million in daily net inflows on Monday, the largest since Feb. 4.

In recent weeks, bitcoin ETFs have been under considerable selling pressure. In terms of weekly flows, the funds saw five consecutive weeks of net outflows, during which a total of around $5.4 billion moved out, according to data from SoSoValue.

"This shift suggests growing confidence, driven by bitcoin’s price stabilization and renewed institutional interest," said Rachael Lucas, crypto analyst at BTC Markets.

Lucas said factors including quarter-end institutional portfolio rebalancing, coupled with rising demand for lower-fee ETFs, have contributed to the positive flows seen yesterday.

On Monday, five bitcoin ETFs reported net inflows, with no funds recording outflows. Fidelity's FBTC led net inflows with $127.3 million, and Ark and 21Shares' ARKB saw $88.5 million move into the fund.

BlackRock's IBIT, the largest spot bitcoin ETF by net assets, reported $42.3 million in inflows on Monday. Grayscale's Mini Bitcoin Trust and Bitwise's BITB also logged net inflows yesterday.

Monday saw around $1.87 billion in total daily volume, and the cumulative total net inflow since their listing stood at $35.58 billion.

Meanwhile, bitcoin appears to have stabilized at its current level of around $83,000. The cryptocurrency exhibited significant volatility earlier this month, with its price fluctuating widely between $78,500 and $94,000.

"Volatility is expected to continue," Lucas said. "With quarter-end approaching, investors are closely monitoring positioning shifts. Institutional rebalancing could fuel additional inflows, but any price weakness might trigger another wave of outflows."