Bitcoin ETF

Bitcoin

Spot

United States-based spot Bitcoin exchange-traded funds (ETFs) recorded one of their lowest net inflow days of just $132 million on March 14 — the lowest level in the past eight trading days and an 80% fall from March 13.&nbsp;
The Thursday drop&nbsp;marked the second consecutive day of decline. On Wednesday, inflows hit $684 million, a 38.3% drop from the March 12. Tuesday saw record-breaking single-day inflows of $1.05 billion.
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/51dafae6-e4cb-4bf7-b356-4a14ddf545f4.png" alt="" title="">
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 Bitcoin ETF flow data. Source: BitMEX
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The total flow of funds into the ETFs stood at $390 million on March 14, with the Grayscale Bitcoin Trust ETF (GBTC) seeing another $257 million in outflows, bringing net inflows to $132 million. On the same day, the VanEck Bitcoin Trust ETF and Fidelity’s Wise Origin Bitcoin Fund recorded inflows of $13.8 million and $13.7 million, respectively. Despite a significant outflow from GBTC, net flows remained positive on Thursday.
BlackRock’s iShares Bitcoin Trust ETF recorded the largest inflows at $345 million. The cumulative net inflows into the U.S. spot Bitcoin ETF remain significant, nearing the $12 billion mark after 44 days of trading.
The change in investor sentiment comes amid a broader downturn in the crypto market as the BTC price dropped below $69,000.
Related: <a href="https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat">Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply</a>
The impact of declining ETF inflows correlated with fluctuations in the BTC price. After bullish price action on Wednesday, March 13, BTC posted a new all-time high above $73,000 before reversing course on Thursday. 
The price dipped lower on Friday, March 15, to around $66,000 as millions in leveraged positions were liquidated. According to data from CoinGlass, 193,431 traders were liquidated in the past 24 hours, with a total liquidation of $682.14 million.
Market pundits suspect the current market volatility, regulatory uncertainties and macroeconomic factors have made investors cautious. The current decline is also attributed to next week’s&nbsp;Federal Open Market Committee meeting, which could shed some light on the Federal Reserve’s plans for interest rates in the future.
The Bitcoin Man, X Hall of Flame: <a href="https://cointelegraph.com/magazine/crypto-bull-run-china-bitcoin-herbert-sim-hall-of-flame/">China will intensify Bitcoin bull run, $1M by 2028</a>

Spot Bitcoin ETF net inflows drop by 80% as BTC price dips below $69K

Cointelegraph

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