Spot Bitcoin ETFs break 10-day inflow streak as BTC nears worst Q1 close since 2018
Quick Take U.S.-based spot Bitcoin ETFs ended their streak of ten trading days of positive net inflows on Friday, with most funds seeing no significant inflows or outflows and Fidelity’s FBTC shedding $93 million. The streak was the longest of the year so far. The price of bitcoin is nearing its worst Q1 close since 2018; BTC is down around 2% in the past 24 hours. Meanwhile, spot Ethereum ETFs logged a rare day of net inflows led by Grayscale’s ETHE — their second such day in March, according to SoSoValue
The ten-day streak of inflows into U.S.-based spot Bitcoin ETFs, the longest seen so far this year, ended Friday after Fidelity’s FBTC fund recorded $93.16 million in outflows. Other funds saw negligible activity.
While Fidelity's FBTC was the only fund to record outflows on Friday, it had logged $97.14 million worth of inflows the day prior, according to SoSoValue data . Trading volume on Friday ticked up slightly higher than previous days, with $2.22 billion in value traded among all the funds.
The funds had added over $1 billion in value during the ten-day streak, a level Presto Research analyst Min Jung called "relatively modest," The Block previously reported .
"This suggests that while institutions are not aggressively risk-on, there is still demand for bitcoin exposure in the market," said Jung.
The end of the streak comes as BTC threatens to complete its worst Q1 close since 2018; the cryptocurrency's price is currently down about 1.8% in the past twenty-four hours and 11.67% in the first quarter of 2025, according to CoinGlass data . A slight price recovery could put it above 2020's 10.83% loss in Q1, while Q1 2018's dramatic 49.7% plunge is not likely to be surpassed.
ETH ETFs reverse outflow streak
In contrast, U.S.-based spot Ethereum ETFs registered their first positive inflow day after seventeen consecutive days of net outflows (excluding March 24, which had zero net activity). Grayscale's ETHE fund took in $4.68 million on Friday, according to SoSoValue data , while no other funds recorded net inflows or outflows.
Grayscale's ETHE fund still holds slightly more in net assets, $2.28 billion, than the second-largest spot ETH fund, BlackRock's ETHA, with $2.24 billion. The ETFs as a whole hold $6.42 billion worth of assets, a small fraction of the $94.39 billion held by their Bitcoin counterparts.
Ethereum is currently looking towards late April or early May for deployment of its Pectra upgrade , following its successful deployment of the upgrade on its Hoodi testnet on Wednesday. The price of ETH is down about 2.5% in the past 24 hours, according to The Block's Ethereum Price Page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley Illustrates 'Blue Wave' Impact: 20% of New Data Center Projects May Be Delayed to 2029, 40% of Shipped Chips May 'Not Be Powered On' Before 2028
Morgan Stanley believes that the US midterm elections are substantially disrupting the construction pace of AI data centers—about 5GW of capacity will be postponed from 2028 to 2029, and up to 40% of chip deployments between 2026 and 2028 risk not being powered on time. The combined pressures of power shortages, political resistance, and rising costs are accelerating the shift of capital toward overseas markets such as Southeast Asia and India, potentially extending the overall AI capital expenditure cycle.
Risk is shifting! Goldman Sachs: Chipmakers' CDS spreads surpass hyperscale cloud providers for the first time, AI default swaps hit record highs
Goldman Sachs stated that AI credit risk is shifting from cloud giants to chip suppliers. For the first time in nearly three months, the chip CDS spread has surpassed that of hyperscale cloud providers, reflecting market concerns over intensified GPU depreciation and customer financing exposure. Impacted by a supply surge, bond issuance premiums for cloud providers have risen significantly, with durations shortening. As hundreds of billions of dollars in project financing flood in by 2027, pressure in the credit market is expected to continue accumulating.
Difficult to Monetize 3.57 Billion Orders? Neutron's Maiden Flight Delayed and Iridium (IRDM.US) Faces Acquisition Funding Pressure
Rocket Lab reported Q3 revenue of $268 million and outstanding orders totaling $3.57 billion. The maiden flight of the Neutron rocket has been postponed to 2027, with clients such as ICEYE having already reserved launch windows in advance. Although operating cash flow has turned positive, the planned acquisition of Iridium will require more than $3 billion in cash, with future revenue...
Crypto prices
More
