U.S.-listed spot Bitcoin ETFs recorded $1.32 billion in net inflows in March, marking their first positive month since October, according to SoSoValue data.
The turnaround follows four straight months of outflows, a period that coincided with Bitcoin sliding as much as 50% from its October all-time high of $126,000. Outflows peaked at $3.5 billion in November, followed by $1.1 billion in December, $1.6 billion in January, and $206 million in February.
March also delivered Bitcoin’s first positive monthly close in six months, hinting at a potential shift in market momentum.
Despite the price drawdown, ETF assets under management have shown notable resilience. Total holdings declined from around 1.38 million BTC in October to a low of 1.28 million BTC—a drop of roughly 7%—before rebounding to approximately 1.31 million BTC, according to CheckonChain data.
Even so, most ETF investors remain in the red. The average estimated cost basis sits near $84,000, compared with a current spot price of roughly $68,000, leaving many holders underwater despite the recent stabilization.
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