Key Highlights
- Total crypto ETF inflows reached $151.05 million on March 24, primarily driven by Bitcoin products.
- Bitcoin exchange-traded funds captured $167.23 million in fresh capital and accumulated 2,360 BTC.
- BlackRock’s IBIT dominated with 2,270 BTC worth $160.89 million in new investments.
- Ethereum-based ETFs experienced outflows totaling $16.18 million, shedding 7,484 ETH.
- Alternative cryptocurrency ETFs covering XRP, SOL, and DOGE reported zero trading activity.
United States spot cryptocurrency exchange-traded funds attracted $151.05 million in net capital on March 24, with Bitcoin products dominating the session. Bitcoin-focused funds captured $167.23 million in fresh investments, whereas Ethereum funds experienced withdrawals totaling $16.18 million. Market intelligence from SoSoValue highlighted robust Bitcoin appetite while Ethereum products faced continued redemptions.
Bitcoin Exchange-Traded Funds Capture $167.23 Million in Fresh Capital
Bitcoin ETFs trading on U.S. exchanges pulled in $167.23 million in net investments on March 24. These financial instruments accumulated 2,360 BTC throughout the trading session, per SoSoValue data.
BlackRock emerged as the dominant force, securing 2,270 BTC representing $160.89 million in new allocations. Fidelity captured the second position with 588 BTC valued at $41.70 million.
ARK 21Shares experienced withdrawals of 133 BTC totaling $9.41 million. This fund stood alone among Bitcoin ETF providers in recording negative flows for the day.
BlackRock’s IBIT represented 96% of aggregate Bitcoin ETF inflows during the period. The product maintained its position as the preferred vehicle for institutional Bitcoin exposure.
The $167.23 million intake represented the most significant single-day performance in recent weeks. This positive momentum reversed the withdrawal pattern that characterized most of March’s trading activity.
Bitcoin’s price action pushed through the $71,000 threshold on hourly timeframes during the same session. The upward price movement coincided with the resurgence of institutional fund flows.
Total cryptocurrency ETF activity settled at $151.05 million in net inflows once Ethereum redemptions were factored against Bitcoin allocations. Bitcoin products exclusively powered the positive net outcome for the trading day.
Ethereum Funds Lose $16.18 Million as Alternative Crypto Products Record No Movement
Ethereum exchange-traded funds listed in the United States registered $16.18 million in net redemptions on March 24. These products witnessed 7,484 ETH exiting on a net basis.
BlackRock’s ETHA experienced outflows of 6,502 ETH representing $14.57 million. Fidelity recorded redemptions of 748 ETH amounting to $1.62 million from its portfolio.
Grayscale documented 365 ETH in sales valued at $25.87 million. The dollar valuation reflected distinct calculation approaches compared to ETH volume metrics.
Every Ethereum ETF provider reported negative flows for the session, with none recording capital inflows. The outflow magnitude remained below earlier redemption levels observed this week.
Market data indicated a deceleration in Ethereum selling pressure relative to previous trading sessions. Nevertheless, the trajectory of capital flows stayed firmly in negative territory.
XRP, LINK, SOL, LTC, DOGE, DOT, HBAR, and AVAX ETFs registered no trading activity on March 24. SoSoValue tracking confirmed complete absence of flows throughout the alternative cryptocurrency ETF sector.
The dormancy across altcoin ETF products stood in sharp contrast to vigorous Bitcoin fund inflows. Institutional capital allocation focused exclusively on Bitcoin-based investment vehicles during the session.
