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ETF AUM decreased by only 7% from the October peaks, indicating stability despite a 50% drop in price.
BTC Monthly ETF Net Inflow (SoSoValue)
Key points:
- U.S. spot bitcoin ETFs saw $1.32 billion in net inflows during March, breaking a four-month trend of outflows.
- ETF holdings fell by just 7.2% at their lowest level and have since made a partial recovery, even as the average investor’s cost basis remains significantly above current market prices.
U.S.-listed spot bitcoin ETFs concluded March with net inflows of $1.32 billion, marking their first monthly inflows since October, according to data from SoSoValue.
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This follows a series of four consecutive months of net outflows, which aligned with bitcoin experiencing a decline of as much as 50% from its all-time high of $126,000 in October.
November recorded $3.5 billion in outflows, succeeded by $1.1 billion in December, $1.6 billion in January, and $206 million in February.
March also represented the first positive monthly candle for bitcoin in six months, indicating a possible change in momentum.
Nevertheless, ETF assets under management have exhibited relative resilience. Holdings decreased from 1.38 million BTC in October to a low of 1.28 million BTC, a decline of about 7%, and have since rebounded to approximately 1.31 million BTC, as per CheckonChain.
ETF investors, on average, are currently at a loss, with an estimated cost basis near $84,000 compared to a current spot price of roughly $68,000.
ETF AUM (CheckonChain)
