Spot bitcoin exchange-traded funds (ETFs) in the U.S. saw $94.3 million of total inflows on the last day of February as crypto’s worst month in three years came to an end.
The figure capped an eight-day streak of outflow during which investors pulled over $3.2 billion from these funds as digital asset prices fell.
BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, was one of the outliers that saw $244.6 million in outflows on Friday. Meanwhile, other large ETFs, including Fidelity’s FBTC, brought in $176 million from investors, while the ARK 21Shares Bitcoin ETF saw the largest inflows, bringing in $193.7 million, according to Farside Investors data.
The inflows came as the cryptocurrency market started showing signs of recovery after the price of bitcoin hit a $78,000 low in the early hours of Feb. 28. Bitcoin is now trading around $84,900 after…
