Bitcoin leads global crypto ETP market rebound to exceed US$800 million, overshadowing Ethereum outflows

As of the end of March, Ethereum’s net outflows exceeded $67 million.

A weekly traffic report shared by James Butterfill, head of research at CoinShares, shows that last week, the digital asset market saw more than $800 million in inflows, driven by Bitcoin’s dominance.

The surge marks a rapid rebound after nearly $1 billion in outflows observed the previous week.

A large amount of money appears in the United StatesFlows into Bitcoin

Bitcoin experienced net flows of up to $865 million, driven by flows into newly launched exchange-traded funds in the United States.

BlackRock IBIT, Fidelity The trio, FBTC and Ark 21 Shares ARKB, attracted a combined $1.53 billion in inflows.

In contrast, Grayscale’s GBTC has continued to flow out, with approximately $960 million flowing out in the past week. This brings GBTC’s total outflows in March to over $6 billion, with the year-to-date metric exceeding $14.7 billion.

In terms of geographical distribution, the United States still dominates due to the emergence of spot Bitcoin ETF products. In the past week, the country reached $897 million in inflows, taking its total monthly flows to $5.7 billion.

Meanwhile, Brazil and Australia witnessed modest inflows of $2.9 million and $1.5 million respectively.

However, Canada and several European countries, including Germany, Switzerland and Sweden, reported outflows ranging from $2.4 million to $20.3 million, consistent with their negative monthly performance trends.

Ethereum witnesses witnessing capital outflow

Ethereum continues to experience continuous outflows, with another $19 million in negative flows, bringing its total outflows in the past month to $67.2 million.

On the other hand, several altcoins experienced positive momentum, with Solana, Litecoin, XRP, Cardano, and Polkadot all seeing inflows. Solana topped the list with $6.1 million in inflows, while XRP attracted a notable $3.8 million despite Ripple’s ongoing case against the U.S. Securities and Exchange Commission (SEC).

The short-term Bitcoin product also experienced $2 million in outflows this time, reflecting a return to market optimism as Bitcoin has stabilized around the $70,000 mark over the past week.

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