What’s behind the surge in spot BTC ETF inflows?

U.S. spot Bitcoin ETFs recently marked seven consecutive days of inflows, with a total of US$84.17 million flowing in on Monday, 24 March alone. Fidelity’s Bitcoin ETF (FBTC) led the charge that day with US$82.85 million.

As I shared in The Block’s coverage, institutional interest appears to be picking up, and it’s no coincidence. There’s a growing sense that macro conditions are improving, especially with the Fed pivoting from quantitative tightening to easing. U.S. President Trump’s recent calls for rate cuts have added fuel to that optimism. A more relaxed stance from the SEC, paired with XRP’s legal win, is also helping calm regulatory concerns. The markets are starting to price in a bit of hope.

Seven days of inflows: What does it mean?

It's a strong signal. It suggests a shift in sentiment, with institutions backing Bitcoin in a way we haven’t seen recently. This flips the script on recent outflows, and hints at a more stable market backdrop. Despite the volatility, Bitcoin is holding its ground, and the fundamentals remain solid. But don’t get ahead of yourself, seven days isn’t enough to call it a trend. It’s more like a spark, not a full-on fire just yet.

What should investors be watching?

Keep an eye on Fed policy and liquidity shifts. If rate cuts or more easing come into play, crypto could get another boost. Bitcoin’s key levels are also critical, watch for US$82K-$86K to hold as support, with US$92K-$93K as a breakout test. If ETF inflows continue, we might see new highs on the horizon. But be alert for potential disruptions, tariff noise or inflation spikes could easily change direction.

It’s also worth noting that not all crypto assets are riding the same wave. Ethereum ETFs saw a US$102M outflow last week. That’s money leaving, not entering. This suggests uneven confidence in the space. ETH doesn’t seem to be getting the same love as BTC. Is it the staking issues? Market sentiment? Macro pressure? Hard to say, but it’s a red flag. Investors need to consider the bigger picture and not just chase the headline winners.

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