Bitcoin ETFs Report $767M Net Inflows in March Week 2, Zero Outflows

Key Insights:

• Bitcoin ETFs posted $187.33 million net inflows on Friday, scooping $1.34 billion so far in March.
• US crypto spot ETFs, including Bitcoin ETFs, scooped $214.8 million on Friday. ETH, SOL, DOGE, and LINK spot ETFs posted net inflows; LTC spot ETFs posted net outflows.
• BTC price crossed $73K on Friday. Liquidation heatmaps show leverage clusters at $74,000 and $70,000.

US Bitcoin (BTC) spot exchange-traded funds (ETFs) posted net inflows of $187.33 million on Friday. This brought the week’s total to $767.33 million.

Five funds reported inflows on Friday, with none of the twelve Bitcoin ETFs reporting outflows. March net inflows stand at $1.34 billion as of March 13th.

US altcoin spot ETFs posted around $34.5 million net inflows on Friday. Overall, US crypto spot ETFs scooped up $214.8 million. Litecoin spot ETFs were the only funds that reported outflows yesterday.

BTC price rose as high as $73,933, ending the day at $70,949. Notably, BTC displayed relative strength amid rising uncertainty amid the intensifying war in Iran.

Bitcoin ETFs March Week#2 Net Inflows at $767.33M, Zero Outflow Days

Institutional confidence in Bitcoin has been steady throughout the Iran war, shows the daily net flows. Since the war started, Bitcoin ETFs posted net outflows on only two days, March 5th and March 6th, according to SoSoValue.

Bitcoin ETFs marked a three-week net inflow streak yesterday. The week ending February 27th recorded net inflows of $787.31 million. The following week ending March 6th saw net inflows of $568.45 million.

Friday’s top buyer was BlackRock (NASDAQ: IBIT), which reported $143.59 million. Fidelity (CBOE: FBTC) scooped $23.24 million; VanEck (CBOE: HODL) added $8.05 million.

Bitwise (NYSE: BITB) posted a $3.09 million inflow, and Ark 21Shares added $2.36 million. None of the funds offloaded BTC yesterday.

IBIT, the largest US Bitcoin spot ETF, added $600 million this week. This closed the week with net assets of $55.65 billion.

This week, FBTC added $147.53 million; Grayscale Bitcoin Trust (GBTC) shed $25.85 million. That marked a two-week net outflow streak. FBTC is the second-largest Bitcoin spot ETF by net assets ($13.35 billion). Grayscale (GBTC), which holds $11.10 billion, followed it.

Grayscale Bitcoin Mini Trust (BTC) added $15.26 million, marking a six-week net inflow streak. BITB added $9.24 million; Ark 21Shares added $6.71 million, and HODL scooped $14.37 million. This marked a three-week net inflow streak.

US altcoin spot ETF also reported net inflows, barring Litecoin (LTC) spot ETFs. Ethereum (ETH) spot ETFs posted $26.69 million; Solana (SOL) spot ETFs pulled in $7.6 million.

Dogecoin spot ETFs reported $193.36K net inflows, and Chainlink spot ETFs posted $324K net inflows. Litecoin (LTC) spot ETFs posted $271K net outflows.

BTC Price Crossed $73K on Friday, Holds Above $71K

With the Iran war showing no signs of easing, and concerns of Oil-led economic downturns rising, uncertainty is increasing. Bitcoin has performed strongly so far. Meanwhile, the war entered its 15th day today, pushing Brent crude back above $100.

Amid the Iran war, US economic data for January highlighted softening economic growth. At press time, BTC price was $70,669, reflecting a 0.5% dip below the price at Friday’s closing bell.

US Personal Consumption Expenditure (PCE) inflation rose 0.4% in January and 3.1% year-over-year. GDP growth was halved to 0.7% in the second estimate from 1.4% in the advance estimate.

Meanwhile, Job Openings and Labor Turnover Survey (JOLTS) data reflected ‘little’ changes in January.

Since the war began on Feb 28th, the BTC price has been up over 14%. Liquidation heatmaps provided by CoinGlass point to potential resistance and support levels based on leverage clusters.

The Binance BTC/USDT liquidation heatmap suggests that leveraged positions are clustered near $74,386. Per this liquidation heatmap, $70,000 is acting as the short-term support level. Meanwhile, the Coinbase BTC/USDC Perpetual pair has positions near $72,500 and $73,000.

According to the CoinGlass liquidation dashboard, 101,231 traders were liquidated in the past 24 hours. The total value of liquidations reached $372.60 million. $201.01 million worth of short positions were liquidated, and $170.95 million worth of long positions were liquidated.

The post Bitcoin ETFs Report $767M Net Inflows in March Week 2, Zero Outflows appeared first on The Market Periodical.