Nasdaq spot Bitcoin (BTC) exchange-traded funds (ETF) saw inflows of $15.4 million on Monday, marking a positive turn after five consecutive days of outflows, according to preliminary data from investment firm Farside.

Inflows were led by Fidelity’s FBTC, which raised $261.8 million, followed by BlackRock’s IBIT, which raised $35.5 million. Other ETFs such as BITB, BTCO, EZBC and BRRR also saw inflows of $11 million to $20 million. Conversely, Grayscale’s ETF (GBTC) saw significant outflows, losing more than $350 million.

Last week was a challenging one for these ETFs, with outflows totaling $887.6 million, primarily due to large withdrawals from GBTC.

What is a Bitcoin ETF?

On January 11, nearly a dozen spot ETFs were launched in the United States, providing investors with the opportunity to invest in Bitcoin without the complexity of direct ownership and storage. These funds invest directly in Bitcoin without the need to roll over positions, unlike futures-based ETFs launched in October 2021.

New discoveries in Bitcoin also have the potential to increase Bitcoin’s legitimacy and attract a broader investor base, potentially enhancing market liquidity and stability. Additionally, it simplifies Bitcoin investing through a familiar stock exchange platform and regulatory environment, alleviating some security concerns and allowing highly regulated institutions to participate in the market.

Since spot ETF trading began, Bitcoin’s value has surged more than 50% to $70,750. On Monday, Bitcoin prices rose more than 4%, briefly surpassing $71,000.

This comes after inflows into the recently approved U.S. spot Bitcoin ETF exceeded $1 billion on March 12, a record high.

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