The last full trading week of March began with promise, but it did not end that way. What started as a brief recovery in bitcoin ETFs quickly gave way to sustained selling pressure, setting the tone for a week defined by caution, rotation, and selective conviction.
Bitcoin spot ETFs recorded net outflows of $296.18 million for the week, reversing recent momentum. The early inflow on Monday, March 23, driven by strong allocations into Blackrock’s IBIT and Fidelity’s FBTC, proved short-lived. By midweek, sentiment had shifted.
IBIT emerged as the largest driver of outflows overall, including a sharp $201 million withdrawal on Friday, March 27 alone. Fidelity’s FBTC followed with consistent redemptions across multiple sessions, yet it finished the week in the green with a $46.88 million weekly net flow.
Despite FBTC’s positive net flow, Bitwise’s BITB and Ark & 21Shares’ ARKB posted notable weekly losses to add to the outflows. Grayscale’s GBTC continued its steady bleed, while smaller products such as the Bitcoin Mini Trust, Vaneck’s HODL, Franklin’s EZBC, and Valkyrie’s BRRR saw mixed, mostly modest flows that did little to offset the broader trend.
Ether ETFs fared worse in consistency, if not magnitude. The group recorded $206.58 million in net outflows, extending a near-unbroken streak of daily declines. Blackrock’s ETHA dominated the downside, including multiple heavy redemptions that defined the week. Fidelity’s FETH, Grayscale’s ETHE, and its Mini Trust, Bitwise’s ETHW, 21Shares’ TETH, Vaneck’s ETHV, and Invesco’s QETH all contributed to the negative flow.
Yet one fund stood apart. Blackrock’s ETHB continued to attract steady inflows throughout the week, supported by its staking feature, as it closed the week with $141 million in inflows. It was not enough to reverse the trend, but it signaled where investor interest is beginning to concentrate.
In smaller segments, divergence became clearer. Solana ETFs posted net outflows of $4.2 million, weighed down by late-week selling in Bitwise’s BSOL and earlier weakness in other funds such as Fidelity’s FSOL and Vaneck’s VSOL. XRP ETFs, by contrast, recorded net inflows of $2.66 million, driven primarily by Bitwise’s XRP product, despite multiple sessions of no trading activity.
In summary, the week reflected a decisive shift in tone. Bitcoin and ether ETFs faced sustained outflows after a brief early rebound, solana slipped into mild losses, and XRP quietly attracted capital. The market is not retreating entirely, but it is becoming far more deliberate.
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