U.S.-based spot Bitcoin ETFs logged just five days of net positive inflows in February, and only one such day so far in March. The effect: the cumulative total net inflows into the funds since the start of 2025 have mostly been erased, with the total value of the funds dropping nearly 25% from its peak at the end of January, alongside the declining price of Bitcoin.
The net sum of the cumulative inflows into the funds is currently $35.20 billion, according to SoSoValue data, just $200 million more than its value of $35.00 billion on January 2, the first trading day of 2025.
"This suggests that the initial wave of investors interested in digital assets is now fully allocated," BRN analyst Valentin Fournier previously told The Block, as February saw notable outflows from some of the industry's largest funds. "Moving forward, ETFs will need fresh demand or a broader market catalyst to reignite inflows."
The total value of the assets under management of the ETFs has increased slightly since Tuesday as Bitcoin's price has risen about 10% over the same period, according to The Block's Bitcoin Price Page. However, the rising asset value belies the net-negative outflows the funds have logged since then.
As the Bitcoin ETFs struggle, a host of asset managers are competing to offer the first altcoin ETFs, proposing funds holding coins such as Polkadot, Axelar, AVAX, and more. Analysts believe Litecoin, XRP, Solana, and Dogecoin funds are the most likely to be approved, The Block previously reported.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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