The ten-day streak of inflows into U.S.-based spot Bitcoin ETFs came to an end on Friday as Fidelity’s FBTC fund saw $93.16 million in outflows. Other funds showed negligible activity during the day.
Despite the outflow from Fidelity’s FBTC, the fund had recorded $97.1 million in inflows the previous day. On Friday, the total trading volume across all Bitcoin ETFs slightly increased, with $2.2 billion in value traded, indicating a moderate level of market participation.
Relatively Modest Inflows Amid Institutional Caution
The ten-day inflow streak added over $1 billion in value, which analyst Min Jung of Presto Research called “relatively modest” suggesting that while institutional investors aren’t aggressively entering the market, there is still steady demand for Bitcoin exposure. Jung emphasized that this continued interest signals cautious optimism among institutions.
Bitcoin Faces Bearish Q1 Close
The end of the inflow streak coincides with Bitcoin’s struggle to avoid its worst Q1 close since 2018. At the time of writing the price of Bitcoin is down with 2% drop in the past 24 hours, according to CoinMarketCap data.
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Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/bitcoin-etfs-experience-ten-day-inflow-streak-end-despite-93m-outflows-from-fidelity-fund/