Bitcoin ETF Market Rebounds in March

US spot Bitcoin exchange-traded funds (ETFs) saw a positive shift in March, recording $1.3 billion in inflows. This marks the first monthly gain for the category in 2026, according to recent data.

Q1 Performance Remains Negative

Despite the March inflows, the first quarter of 2026 concluded with net outflows of roughly $500 million for US spot Bitcoin ETFs. This was due to significant redemptions in January ($1.61 billion) and February ($207 million).

BTC Price Decline Impacts Flows

The outflows coincided with a more than 22% decline in the price of Bitcoin (BTC) during Q1. This represents the second consecutive quarterly drop for BTC, following a 23% decrease in Q4 2025.

Investor Sentiment and Trading Volume

Throughout much of Q1, investor sentiment remained cautious, as indicated by the Crypto Fear & Greed Index consistently hovering below 20, signaling “Extreme Fear.” Monthly trading volumes in spot Bitcoin ETFs also decreased to approximately $79 billion in March, down from $93 billion in February and $87 billion in January.

ETF Performance Details

Cumulative inflows into spot Bitcoin ETFs reached roughly $56 billion by the end of the quarter. Total assets under management (AUM) stood at approximately $87.5 billion at quarter’s end. While some ETFs experienced outflows totaling around $31 million in March, other ETFs continued to gain momentum with consecutive inflows totaling $213 million.

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