Bitcoin ETFs are going green despite a huge plunge in BTC prices

Despite Bitcoin suffering a 50% drawdown, major crypto-related US exchange traded funds (ETFs) have shown quite remarkable resilience.

A fairly impressive capital injection push Year-to-date results are on the verge of turning positive.

Eric, senior ETF analyst at Bloomberg, noted that the ETF currently holds a total of 1.28 million Bitcoins. This, of course, makes them the world’s largest collective holders.

Despite painful capital outflows, buyers appear to be refusing to surrender.

as U.Today reportedBalchunas recently praised the XRP ETF’s resilience as “really amazing” (considering it entered a massive market correction).

Current Bitcoin ETF flow

According to the latest SoSoValue market data, the fund posted solid daily net inflows of $250.92 million. These bring cumulative lifetime net inflows to $55.79 billion.

With this capital injection, the total net assets held by all US Bitcoin ETFs reached $90.02 billion. This accounts for more than 6% of Bitcoin’s global market capitalization.

The total volume of transactions in these products for the day amounted to $3.6 billion.

From late January to early February, the fund suffered a brutal capitulation with a net outflow of $817.87 million on January 29th, followed by a loss of $544.94 million on February 4th.

However, the tide changed decisively from late February to early March.

For example, on March 4, there was a huge inflow of $461.77 million. This allowed us to offset previous losses.

Bitcoin ETF performance remains volatile, but one thing remains constant. That said, BlackRock’s iShares Bitcoin Trust (IBIT) continues to absolutely dominate the sector. On March 10 alone, IBIT absorbed $185.76 million in new inflows.