US Bitcoin ETFs see $296 million weekly outflows as global crypto funds snap four-week inflow streak

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $296 million in net outflows for the week ending March 27, causing a 7.5% decline in their total net assets from $91.7 billion to $84.8 billion. Globally, digital asset investment vehicles saw $414 million in outflows, ending a five-week streak of inflows, which CoinShares attributed to investor concerns over the Iran conflict and expectations of higher inflation, causing June FOMC rate cut expectations to flip to rate hikes. While the U.S. accounted for $445 million of the outflows, Germany and Canada saw inflows. Ethereum products led global withdrawals with $222 million, while Bitcoin funds still maintain a year-to-date net inflow of $964 million. The significant weekly outflow from U.S. ETFs was largely driven by a $225.5 million exodus on March 27, with BlackRock’s IBIT fund shedding $201.5 million that day.

(Source：The Block)