United States spot Bitcoin exchange-traded funds have experienced three consecutive days of total net outflows, with $261.5 million exiting the funds on March 20.
On March 20, a substantial withdrawal occurred from the Grayscale Bitcoin Trust , resulting in $386.6 million exiting the fund, serving as the primary driver of these outflows. Furthermore, the Invesco Galaxy Bitcoin ETF witnessed $10.2 million departing the fund, exceeding the minor inflows from the remaining eight approved ETFs.
This marks the second-highest net outflow day for the 10 ETFs, only surpassed by the $326.2 million outflow observed on March 19. Despite these numbers, market observers remain optimistic.
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