Spot Bitcoin (BTC) exchange-traded funds recorded $296.18 million in net outflows for the week ending March 28, reversing a four-week period that brought $2.2 billion in cumulative inflows.
The outflows included a $225.62 million withdrawal on Friday alone, the largest single-day redemption since March 3.
BlackRock's iShares Bitcoin Trust led Friday's exodus with $201.67 million in outflows, while Bitwise and Ark Invest funds shed $18.60 million and $5.35 million respectively.
Total net assets across all spot Bitcoin ETFs dropped to $84.77 billion from over $90 billion a week earlier.
Liquidity Conditions Drive Range-Bound Trading
Bitcoin traded between $65,000 and $72,000 throughout the week as capital avoided directional bets. Weekly trading volume fell to $14.26 billion from $25.87 billion earlier in March, reflecting reduced institutional activity.
A Bitunix analyst told Cointelegraph that Bitcoin is "behaving less like a breakout asset and more like a reflection of liquidity conditions." The analyst noted that capital is neither exiting nor taking directional risk, with price action likely to remain volatile within established ranges until macro conditions align.
Cumulative net inflows into spot Bitcoin ETFs stand at $55.93 billion despite the weekly reversal.
March delivered $2.5 billion in gross inflows and $1.6 billion in net inflows after outflows on March 5-6 and March 18-20, according to Bloomberg analyst Eric Balchunas.
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Ethereum ETFs Extend Losses
Spot Ethereum (ETH) ETFs posted $206.58 million in weekly outflows, their second consecutive week of losses.
Thursday's $92.54 million outflow was the largest single-day withdrawal, followed by $48.54 million on Friday.
The Ethereum products recorded consistent daily outflows every trading session since March 18, reversing the modest inflow streak from earlier in the month.
Year-to-date outflows for 2026 across all Bitcoin ETFs fell to approximately $210 million after March's recovery, down from $1.81 billion in January-February combined.
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