On March 31, spot Bitcoin ETFs experienced a total net outflow of $60.6 million. IBIT saw an influx of $15.1 million, whereas BITB faced a withdrawal of $19.9 million. ARKB lost $23.2 million, while BTCW experienced a decline of $32.6 million. Other fund issuers reported no net changes. These trends followed a notable outflow of $93.2 million on March 28, which concluded a 10-day period of positive inflows.
By April 1, the overall net outflows increased to $157.8 million. FBTC reported a significant outflow of $85.4 million, reversing the earlier trend with IBIT. BITB shifted to a positive inflow of $24.5 million compared to its previous outflow on March 31. ARKB continued to decline, losing $87.4 million, while EZBC recorded a $7.4 million inflow. BTCW faced an additional $6.8 million outflow on top of its earlier losses, and GBTC noted a $10.1 million drop, with all other issuers remaining stable.
These recent consecutive losses indicate a change from the positive momentum observed between March 17 and March 27 when nearly all funds were on an upward trajectory. This earlier optimism has been interrupted by the $93.2 million withdrawal on March 28, which has now led to further losses. Despite a few ETFs witnessing inflows on March 31 and April 1, these gains have not been sufficient to offset the larger withdrawals happening across other funds.
The figures for both days suggest a diminishing interest among investors in Bitcoin ETFs. The few funds with inflows were outnumbered by those withdrawing capital, contributing to a net decline. It appears the market is now experiencing two consecutive days of losses, indicating a shift away from the steady inflows observed in mid-March.