US spot bitcoin ETFs attract $458m in a day

US spot bitcoin ETFs took in $458m on March 2; BlackRock’s IBIT led with $263m.

On March 2, net inflows into US spot exchange-traded funds backed by the first cryptocurrency totaled $458.19m.

BlackRock’s IBIT led, attracting $263.19m. Seven other products, including ETFs from Fidelity and Grayscale, also finished in the black. 

In January and February, clients pulled more than $1.8bn from bitcoin ETFs. Last week the trend reversed — $787m flowed into the funds. 

This week’s numbers suggest interest is returning. BTC Markets analyst Rachel Lucas pointed out a split in market sentiment. Large capital is building positions, anticipating a global economic recovery, while smaller investors are feeling “extreme fear”. 

In Lucas’s view, BlackRock’s lead points to coordinated moves by pension funds and asset managers. Institutions are using cryptocurrency to diversify risk amid macroeconomic instability, buying the dip rather than waiting for perfect market conditions.

Altcoin-based investment products also supported the positive trend. Spot Ethereum ETFs took in $38.69m over the day.

Inflows into funds focused on Solana and XRP totaled $17.4m and $6.97m.

The crypto market responded with gains. At the time of writing, bitcoin traded at $67,314 (+2% over 24 hours), and Ethereum at $1966 (+1.3%).

Downside risks remain

According to Wintermute analysts, despite the local rebound, the crypto market remains fragile due to rising energy prices and structural changes in the global economy.

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— Wintermute (@wintermute_t) March 3, 2026

Investors continue to rotate into safe-haven assets and commodities. Oil rose 9%, briefly topping $80 a barrel, while gold traded above $5400. At the same time, stock markets opened lower and the VIX volatility index hit its highest since the start of 2026.

The analysts warned that high energy prices are a direct route to persistent inflation. This will force the Fed to postpone interest-rate cuts. A delay in monetary easing has historically put strong pressure on cryptocurrencies.

On the over-the-counter market, institutional activity remains low. Trading volumes have dropped markedly compared with the period when bitcoin traded in the $85,000–95,000 range. 

The derivatives market is registering a jump in volatility — the DVOL index has risen from 30–40 to 55. Options are pricing daily swings in the digital gold of 2.5–3%. Amid these moves, a consensus is forming: buying the asset on dips to $55,000–59,000 offers an optimal risk–reward over a 12–18 month horizon.

Wintermute emphasized that global macroeconomic factors, not crypto-industry news, are driving the market now. If oil continues to rise and the Fed stays on the sidelines, interest in risk assets will keep fading.

Even so, a crisis could accelerate recognition of the first cryptocurrency as “digital gold”. If traditional safe havens become overheated with investor capital, some funds may flow into bitcoin. Current trading volumes do not yet confirm this scenario, but analysts advise watching the market closely.

From 23 to 27 February, inflows into crypto funds came to $1bn.