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On Tuesday, BTC struck a new 2024 high of $68,735. Investors reacted positively to BTC-spot ETF market data for Monday, March 4.
According to available data, Grayscale Bitcoin Fund (GBTC) saw net outflows fall from $492.4 million to $368.0 million on Monday, March 4. The pullback in net outflows aligned with investor expectations that GBTC net outflows have peaked. Net outflows surged after the February court approval for Genesis Global Holdco LLC to liquidate GBTC shares worth approximately $1.3 billion.
The BTC-spot ETF market will see net inflows on March 4 despite GBTC outflows.
According to Farside Investors, Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows jump from $49.3 million (March 1) to $404.6 million (March 4). The BTC-spot ETF market saw total net inflows of $164.6 million, excluding flow data from iShares Bitcoin Trust (IBIT), Invesco Galaxy Bitcoin ETF (BTCO), and Valkyrie Bitcoin Fund (BRRR).
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