U.S. spot Bitcoin (CRYPTO: BTC) ETFs recorded $296 million in net outflows for the week ending March 27 amid the ongoing war between the U.S. and Iran.
The Single-Day Bleed
The weekly outflow stems from a $225.5 million exodus on March 27, the heaviest single-day bleed of the week, according to SoSoValue data.
BlackRock’s IBIT (NASDAQ:IBIT) fund shed $201.5 million on that day alone, marking the largest single-fund outflow over the five-day trading period.
Total net assets for U.S. spot Bitcoin ETFs declined 7.5% from a March 23 peak of $91.7 billion to $84.8 billion by Friday’s close.
The shift reversed recent positive momentum after several weeks of healthy inflows month-to-date.
Moreover, Ethereum (CRYPTO: ETH) investment products recorded the largest global withdrawals of $222 million, pushing year-to-date flows to a net outflow of $273 million—the weakest among major …Full story available on Benzinga.com
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