---
title: "Bitcoin ETFs see a fifth consecutive day of net outflow"
url: https://diffcoin.com/bitcoin-etfs-see-a-fifth-consecutive-day-of-net-outflow/
description: "Spot Bitcoin ETFs reported total net outflows of $51.6 million on Friday, marking the fifth day of consistent withdrawals."
published: 2024-03-23
updated: 2024-03-23
author: "Mila"
site: "Diffcoin"
---

# Bitcoin ETFs see a fifth consecutive day of net outflow

Spot Bitcoin exchange-traded funds (ETFs) reported total net outflows of $51.6 million on Friday, marking the fifth day of consistent withdrawals.

Among these, the Grayscale ETF (GBTC) experienced a substantial single-day net outflow of $169 million. In contrast, the BlackRock ETF (IBIT) and Fidelity ETF (FBTC) saw modest single-day net inflows of $18.89 million and $18.13 million, respectively, both reaching two-day record lows.

Despite this downward trend, there’s a silver lining as the rate of outflows appears to be decelerating. The most significant drop happened on Tuesday, with over $323 million exiting across all 10 ETFs. Correspondingly, Bitcoin’s value dipped to $62,000 on the same day.

![Bitcoin ETF outflow](https://crypto.news/app/uploads/2024/03/achievements-1.png)

Total Bitcoin ETF outflow since SEC approval | Source: SoSo Value

However, as the outflow slows, Bitcoin has started to bounce back, showing a near 3% increase today, pushing its price up to $64,600.

[Analysts](https://twitter.com/ki_young_ju/status/1771038205623865426) have suggested that ETF demands could resurface as the largest cryptocurrency reaches certain support levels.

The upcoming halving could also see renewed interest from institutional investors in these ETFs.

> [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) spot ETF netflows are slowing.
> 
> Demand may rebound if the [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) price approaches critical support levels.
> 
> New whales, mainly ETF buyers, have a $56K on-chain cost basis. Corrections typically entail a max drawdown of around 30% in bull markets, with a max pain of $51K. [pic.twitter.com/vZCG4F0Gh5](https://t.co/vZCG4F0Gh5)
> 
> — Ki Young Ju (@ki_young_ju) [March 22, 2024](https://twitter.com/ki_young_ju/status/1771038205623865426?ref_src=twsrc%5Etfw)

This recent activity underscores a strong correlation between Bitcoin ETF movements and the BTC’s market value.

Earlier in the month, when Bitcoin ETFs enjoyed a record influx of $1 billion, the price of BTC soared to an all-time peak of $73,700.

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