Data from SoSoValue has revealed a worrying trend in Bitcoin Exchange Traded Funds (ETFs). March 20 marks the third consecutive day of net outflows. According to data, a total net outflow of $261 million was recorded on March 20 alone.

Bitcoin ETFs Witness Consecutive Net Outflow Days

Leading the way in terms of outflows, Grayscale Bitcoin Trust (GBTC) experienced a significant single-day net outflow of $386 million. This significant move contributed to GBTC's total historical net outflow, which now stands at a staggering $13.27 billion.

In contrast, amid the outflow trend, BlackRock ETF IBIT emerged as an outlier and witnessed a single-day net inflow of $49.28 million on March 20. Additionally, there was an inflow of 12.9 Million dollars on the Fidelity side.

This influx of funds increased IBIT's total historical net inflow to $13.09 billion, indicating resilient demand for exposure to Bitcoin through ETFs.

Back-to-back net outflows in Bitcoin ETFs underscore a period of uncertainty and volatility in the cryptocurrency market. Investors appear to be reevaluating their positions amid fluctuating prices and regulatory concerns.

While GBTC continues to experience significant outflows, flows into IBIT show that investors are still willing to buy into Bitcoin through alternative means.