End of Five Straight Weeks of Outflows? Wall Street Money Flows Back Into Bitcoin

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Spot Bitcoin ETFs in the United States attracted $1.1 billion over three trading days, raising the likelihood of ending a five-week streak of net outflows.

According to investment media outlet FXStreet on Feb. 27 (local time), U.S.-listed spot Bitcoin (BTC) ETFs recorded a total of $1.1 billion in net inflows over the past three consecutive days. Even after accounting for a single day of net outflows earlier this week, data from SoSoValue show the funds are maintaining approximately $815 million in net inflows, marking the strongest weekly performance since $1.4 billion flowed in during the week ending Jan. 16.

More than half of the inflows were concentrated in BlackRock’s iShares Bitcoin Trust (IBIT), which drew about $652 million over the three days. Grayscale’s GBTC also supported the turnaround sentiment, posting its largest single-day inflow since converting to an ETF.

Signs of recovering U.S. demand are also emerging. The Coinbase Premium Index, which had remained in negative territory for 40 days, recently turned positive. The index measures the price difference between Coinbase, which is widely accessible to U.S. investors, and the global average price, and is used as a barometer of institutional flows and investor sentiment.

According to Checkonchain data, total holdings of U.S. spot Bitcoin ETFs have increased to 1.29 million BTC. This represents less than a 10% decline in assets under management (AUM) compared to the peak recorded last October. Meanwhile, Bitcoin’s price remains about 45% below its all-time high reached in October, currently moving sideways in the mid-$60,000 range.

Notably, open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has fallen to 107,780 BTC. The CME is known for active basis trades, where investors simultaneously buy spot and sell futures contracts. The decline in futures open interest has led to interpretations that the recent ETF inflows may represent “outright long positions” rather than simple arbitrage trades.

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