Efe Nail Saltık 
Bitcoin spot ETFs saw an influx of over $15 million on Monday, breaking a streak of five consecutive days of outflows. Analysts speculate thatinflows may accelerate as the quarter nears its end.
According to provisional data released by investment firm Farside, Nasdaq-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded inflows totaling $15.4 million on Monday, putting an end to a recent string of outflows. Leading the inflows was Fidelity’s FBTC, attracting $261.8 million, followed by BlackRock’s IBIT with $35.5 million. Other funds such as BITB, BTCO, EZBC, and BRRR received between $11 million and $20 million each. However, Grayscale’s ETF (GBTC) continued to experience outflows, losing slightly over $350 million.
Last week, these ETFs collectively experienced outflows amounting to $887.6 million, largely due to significant withdrawals from GBTC.
Introduced on January 11 in the U.S., nearly a dozen spot ETFs provide investors with exposure to the leading cryptocurrency without the complexities of owning and storing digital assets directly. Unlike futures-based ETFs launched in October 2021, spot ETFs invest directly in bitcoin and eliminate the need for position rollovers.
Since the inception of spot ETF trading, bitcoin has surged by over 50% to reach $70,750. On Monday, prices increased by just over 4%, briefly surpassing the $71,000 threshold.
Markus Thielen, founder of 10x Research, noted that quarter-end flows could surpass expectations, potentially driving the cryptocurrency’s price to new highs. He highlighted the sudden turnaround in Bitcoin ETF flows on Monday, particularly with Fidelity witnessing a significant influx of $262 million compared to previous sessions.
Thielen emphasized the importance of spot ETF inflows and the issuance of dollar-pegged stablecoin tether (USDT) for Bitcoin to sustain its upward momentum. Tether, being the largest dollar-pegged stablecoin globally, plays a crucial role as a funding currency in both crypto spot and derivatives markets.
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