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United States spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds (ETFs) have now marked their third straight day of total net outflows, with $261.5 million leaving the 10 approved funds on March 20.
It brings three-day net outflows to $742 million as March 18 and 19 saw respective net outflows of $154.3 million and $326.2 million, per Farside Investors <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">data</a>.
The outflow was due mainly to another solid day of outflow from the Grayscale Bitcoin Trust (GBTC), which bled $386.6 million, while Invesco Galaxy Bitcoin ETF (BTCO) also saw $10.2 million exit the fund. Both came to eclipse the trickle of inflows from the eight other approved ETFs. 
BlackRock’s iShares Bitcoin Trust (IBIT) had its second-lowest-ever net inflow day at $49.3 million — just $4 million more than its daily low of Feb. 6, and the Fidelity Wise Origin Bitcoin Fund (FBTC) similarly had a runner-up low inflow day at $12.9 million.
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 Flows for all 10 U.S. spot Bitcoin ETFs, green row highlights March 20. Source: Farside Investors
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It’s the second-highest net outflow day for the 10 ETFs, beaten only by <a href="https://cointelegraph.com/news/biggest-bitcoin-etf-outflow-day-grayscale-btc-supply-july">$326.2 million that left the funds </a>on March 19.
Related: <a href="https://cointelegraph.com/news/bitcoin-bull-cycle-is-far-from-over-thanks-to-the-halving-cryptoquant-research">Bitcoin bull cycle is ‘far from over’ thanks to the halving — CryptoQuant research</a>
Meanwhile, Bitcoin <a href="https://cointelegraph.com/news/bitcoin-ethereum-rebound-but-still-show-overheated-signals-k33-research">gained over 3%</a> during U.S. trading hours and has seen a 7.5% gain over 24 hours to trade at $66,838, <a href="https://pro.cointelegraph.com/coins/bitcoin">according</a> to Cointelegraph Markets Pro.
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 Bitcoin’s 24-hour price in UTC hit an intraday bottom of just below $60,900. Source: Cointelegraph Markets Pro
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Over the previous week, BTC has slid from its March 14 <a href="https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat">record high</a> as the countdown to the blockchain’s <a href="https://cointelegraph.com/learn/bitcoin-halving-how-does-the-halving-cycle-work-and-why-does-it-matter">halving</a> — where mining rewards are cut 50% — enters into its final month.
Historically, BTC has fallen in the lead-up to the halving, and it has <a href="https://cointelegraph.com/news/bitcoin-price-30-day-halving-investment">followed a similar pattern</a> this time around as the event enters into the final 30 days, per CoinMarketCap <a href="https://coinmarketcap.com/events/bitcoin-halving/" target="_blank" rel="noopener nofollow">data</a>.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-bull-run-china-bitcoin-herbert-sim-hall-of-flame/">The Bitcoin Man, X Hall of Flame: China will intensify Bitcoin bull run, $1M by 2028</a>

Spot Bitcoin ETFs suffer third straight day of net outflows, $261M bled

Cointelegraph

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