Bitcoin ETFs End Month with $94.3M Inflows

Bitcoin ETFs snapped an eight-day outflow streak on the last day of February, with $94.3 million in inflows, marking the end of a challenging month for cryptocurrencies. This figure capped a period during which investors withdrew over $3.2 billion from these funds as digital asset prices declined.

BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, saw $244.6 million in outflows on Friday. Meanwhile, other large ETFs, such as Fidelity’s FBTC, brought in $176 million from investors, while the ARK 21Shares Bitcoin ETF saw the largest inflows, with $193.7 million, according to Farside Investors data.

The inflows came as the cryptocurrency market began to show signs of recovery. The price of bitcoin hit a low of $78,000 in the early hours of Feb. 28 but has since risen to around $84,900, an increase of 1.6% in the last 24 hours. The broader CoinDesk 20 Index rose 0.3% to 2,705.

Over the past week, BTC has fallen by roughly 12%, while the broader crypto market, as measured by the CoinDesk 20 Index, fell by 15.8%. Spot bitcoin ETFs had been experiencing a significant outflow streak since Feb. 14, when these funds saw $66.2 million in inflows.

Spot ether ETFs, on the other hand, maintained an ongoing outflow streak on the last day of February, with $41.9 million leaving these funds. Since their last day with a positive net flow, $357.5 million has exited these funds, according to data from Farside.

The recent market recovery comes as the White House announced a crypto summit to be hosted by U.S. President Donald Trump on March 7. Additionally, the world’s largest asset manager, BlackRock, added a 1% to 2% allocation of its spot bitcoin ETF to one of its model portfolios.