Bitcoin ETF Flows Cool to $619 Million as Oil Prices Spike
Crypto funds saw $619M weekly inflow as oil spikes triggered late outflows, with experts split on whether Bitcoin can withstand macro pressure.
$BTC bullish start to the week and the subsequent pullback align with crypto fund flows and escalating geopolitical tensions in the Middle East.
Last week, crypto fund inflows reached $1.44 billion in the first three days, coinciding with the U.S. attack on Iran, but eventual outflows toward the end of the week put the cumulative weekly flows at $619 million, according to CoinShares latest report.
Unlike in prior weeks, the U.S. investors did the heavy lifting compared to the EU and Asian counterparts.
“Bitcoin dominated flows with $521 million, while $ETH and Solana attracted notable inflows; XRP was the only major asset to see meaningful outflows,” CoinShares head of research James Butterfill wrote. Bitcoin’s price action shows it followed the money, rallying nearly 11% from $66,356 to $73,648 between March 1 and 5. However, it has dropped nearly 8% from last Thursday and is currently trading at $67,777, according to data from crypto price aggregator.
The $1.44 billion early-week inflow followed by $829 million in outflows reflects position management rather than collapsing conviction, according to Nima Beni, founder of Bitlease. “Portfolio managers often put on positions early in the week, capture the move, and then trim risk before weekends or geopolitical uncertainty,” he told Decrypt.
