US spot Bitcoin exchange-traded funds (ETFs) finished the first quarter of 2026 with net outflows, despite March delivering the category’s first monthly inflows of the year. Spot Bitcoin ETFs recorded $1.32 billion in March inflows — the first monthly gain of 2026 and the first since October 2025, according to SoSoValue. Those inflows did not offset $1.61 billion in redemptions in January and $207 million in February, leaving roughly $500 million in net outflows for Q1.
The outflows came as Bitcoin fell more than 22% in Q1, its second consecutive quarterly decline after a 23% drop in Q4 2025, per CoinGlass. March inflows arrived despite persistent investor caution: the Crypto Fear & Greed Index largely stayed below 20 for much of the month, indicating “Extreme Fear.” Analysts highlighted the resilience of crypto investment products amid rising geopolitical tensions linked to the Middle East conflict.
Monthly trading volumes in spot Bitcoin ETFs eased to about $79 billion in March, down from $93 billion in February and $87 billion in January. Cumulative inflows reached roughly $56 billion by quarter-end, and total assets under management were about $87.5 billion.
Among other spot crypto ETFs, Ether ETFs posted $46 million in net outflows in March. Ether funds recorded the largest quarterly losses, totaling about $769 million after three consecutive months of outflows. XRP ETFs saw roughly $31 million in March outflows but finished the quarter with net inflows near $43 million. Solana ETFs continued to gain momentum over the quarter, with consecutive inflows totaling $213 million and no monthly outflows since their October 2025 launch.
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