As February drew to a close, spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a total inflow of $94.3 million, marking the end of the cryptocurrency’s toughest month in three years.
This amount concluded an eight-day period of outflows, during which investors withdrew over $3.2 billion from these funds in response to declining digital asset prices.
Among the outliers, BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, experienced a notable outflow of $244.6 million on Friday. In contrast, other significant ETFs such as Fidelity’s FBTC attracted $176 million in new investments, while the ARK 21Shares Bitcoin ETF recorded the highest inflow of $193.7 million, as reported by Farside Investors.
The inflow coincided with a slight recovery in the cryptocurrency market, following a dip in bitcoin prices that reached a low of $78,000 during the early morning of February 28. Currently, bitcoin is trading at approximately $84,900 after a 1.6% increase over the past 24 hours, and the broader CoinDesk 20 Index has risen by 0.3% to reach 2,705.
Despite these gains, BTC remains down about 12% over the past week, while the overall crypto market, indicated by the CoinDesk 20 Index, has decreased by 15.8%. Spot bitcoin ETFs have faced a prolonged outflow since February 14, when these funds recorded inflows of $66.2 million.
In contrast, spot ether ETFs reported ongoing outflows on the last day of February, totaling $41.9 million. Since their last day with a positive net flow, these funds have seen $357.5 million exit, according to Farside data.
The recent market improvement arrives alongside news that the White House announced U.S. President Donald Trump will host a crypto summit on March 7, and after BlackRock, the world’s largest asset manager, added a 1% to 2% allocation of its spot bitcoin ETF to one of its model portfolios.
Read more: BlackRock’s Bitcoin ETF Sees Record Daily Outflow as the Basis Trade Starts to Unwind
