The US Spot Bitcoin Exchange-Traded Funds (ETF) saw a total inflow of $94.3 million on the last day of February as Crypto’s worst month ended in three years.
The figure concluded an eight-day streak of a leak in which investors minus more than $3.2 billion from these funds as digital asset prices fell.
BlackRock’s Ishares Bitcoin Trust (IBIT) is the largest spot Bitcoin ETF by managed assets, and was one of the outliers that saw a $244.6 million spill on Friday. Meanwhile, other large ETFs, including Fidelity’s FBTC, brought in $176 million from investors, while the Ark 21-share Bitcoin ETF saw the biggest inflow, bringing in $193.7 million.
The influx occurred when the cryptocurrency market began showing signs of recovery after Bitcoin prices fell by $78,000 early on February 28th.
Over the past week, BTC still declines by around 12%, while the broader crypto market measured by the Coindesk 20 index has declined by 15.8%. The Spot Bitcoin ETF has endured a significant spill streak since February 14th, when these funds saw an inflow of $66.2 million.
Meanwhile, the Spot Ether ETF maintained its continued spill streak on the last day of February, with $41.9 million leaving these funds. Data from Farside shows that since the last day there was positive net flow, $357.5 million has withdrawn these funds.
The recent market recovery comes as the White House announced that US President Donald Trump held a crypto summit on March 7th, with BlackRock, the world’s largest asset manager, adding 1%-2% allocation of its spot Bitcoin ETF to one of its model portfolios.
Read more: BlackRock’s Bitcoin ETF records daily spills as basic transactions begin to rewind