US Spot Crypto ETF Inflows Skyrocket as Bitcoin Surpasses $71,000

March 24 marked a turning point for the US-listed spot crypto ETF market, with significant inflows into Bitcoin ETFs. According to SoSoValue data, Bitcoin ETFs attracted $167.23 million in inflows, while Ethereum ETFs recorded net outflows of $16.18 million.

The combined result left the market with a net positive daily figure of $151.05 million, as Bitcoin price rose above $71,000. This recovery came during a broader market rebound, with other assets such as oil and US equity futures also experiencing gains.

BlackRock's IBIT fund accounted for most of the buying in Bitcoin ETFs, adding 2,270 BTC worth around $160.89 million to its portfolio. Fidelity also posted gains, with 588 BTC worth around $41.70 million added to its holdings.