U.S. spot Bitcoin ETFs add $2.5B in March, near YTD break-even

U.S. spot Bitcoin exchange-traded funds drew about $2.5 billion in March 2026, almost offsetting year-to-date redemptions after a run of strong sessions across multiple issuers. BlackRock’s iShares Bitcoin Trust (IBIT) now shows net inflows for the year.

Daily flow figures show nine trading days in March with more than $150 million in net subscriptions, including $458.19 million on March 2 and more than $200 million on March 16 and 17, based on data from SoSoValue. Flows turned higher in late February after several weeks of outflows.

On a weekly basis, U.S. spot Bitcoin ETFs took in $787.31 million in the final week of February, followed by $568.45 million and $767.33 million in the first two full weeks of March. Net additions totaled $95.18 million and $167.23 million in the next two weeks, bringing the past month’s sum to roughly $2.5 billion.

Bitcoin continues to trade well below prior highs. It is about 40% under its October 2025 peak of $126,080, according to CoinGecko pricing.

ETF analyst Eric Balchunas noted that BlackRock’s IBIT is already net positive for the year and ranks in the top 2% of all ETFs by YTD flows. Balchunas called the resilience striking given Bitcoin’s roughly 40% six-month price drop, contrasting it with gold’s similar decline a decade ago, when about a third of investors exited.

Andri Fauzan Adziima, research lead at Bitrue, said investors are drawn to ETFs because they are regulated and easy to access. He argued this is speeding up how money moves into Bitcoin, with funds shifting out of gold ETFs and into Bitcoin ETFs. He added that more institutions now view Bitcoin as a core portfolio diversifier, a shift that should sustain inflows and tighten supply.

Institutional activity extends beyond ETFs. Strategy filed regulatory paperwork outlining plans to acquire up to $44 billion in Bitcoin even as its stock extends losses. The company also intends to raise capital through new common and preferred equity, including up to $21 billion of additional MSTR shares, $21 billion of variable-rate preferred STRC, and $2.1 billion of convertible preferred STRK. A Morgan Stanley Bitcoin ETF is also nearing launch, and fewer than 1 million new BTC remain to be mined over the next 114 years under the asset’s fixed issuance schedule.

Balchunas has estimated that the latest pace leaves aggregate U.S. spot Bitcoin ETF flows close to turning positive for 2026 on a cumulative basis, with IBIT already across that mark.