Bitcoin Spot ETFs recorded net inflows of $568.45 million during the week ended March 6, marking the second consecutive week of positive inflows.
Conclusion
- Bitcoin ETFs recorded weekly gains of $568.45 million.
- A buying spree of $1.15 billion from March 2-4 offset $576 million over the weekend.
- Ethereum ETFs added $23.56 million, but heavy fees wiped out most of the week’s average gains.
Three days of strong buying from March 2-4 totaling $1.15 billion was offset by buying on March 5-6, which took in $576.66 million and left the week with net positive flows.
Bitcoin (BTC) fell below $67,000 after a 24-hour drop, while net assets for Bitcoin ETFs hit $87.07 billion.
The March 2-4 buying wave will bring in $1.15 billion before reversing
March 2 and March 4 posted nearly identical inflows of $458.19 million and $461.77 million, respectively, including March 3’s positive inflow of $225.15 million.
The three-day period brought in $1.15 billion in Bitcoin ETF products. On March 5, it recorded an overseas gross of $227.83 million, followed by a further $348.83 million on March 6.
The two-day pullback wiped out less than half of the previous three days’ gains, but left the week with a net income of $568.45 million.
Weekly trading volume for the period ending March 6 reached $25.87 billion, up from $15.99 billion during the week of February 27.
Total net assets increased from $83.40 billion on February 27 to $87.07 billion on March 6.
Ethereum posts weekly earnings of $23.56 million
Ethereum spot ETFs recorded net inflows of $23.56 million during the week ending March 6, down sharply from $80.46 million the previous week.
March 4 marked the strongest one-day performance at $169.41 million before two consecutive days of sharp withdrawals.
On March 5, $90.94 million was paid, and then on March 6, $82.85 million was withdrawn.
The two-day withdrawal period nearly wiped out the March 4 win. Imports of $38.69 million were added on March 2, while exports of $10.75 million were recorded on March 3.
Total net assets for Ethereum products reached $11.28 billion and total net inflows reached $11.63 billion. The price of Ethereum also fell below $1,900 after a daily decline of 2%.
