Bitcoin ETF attracts $500 million in a single day! Institutional funds are flowing back, and Bitcoin's safe-haven status is once again in high demand.

On March 6, U.S. spot Bitcoin ETF fund flows showed a clear reversal. On March 5, out of 11 mainstream Bitcoin ETFs, 10 experienced net inflows, with a single-day inflow of about $500 million, marking the best performance since 2026. Previously, these funds had experienced six consecutive weeks of outflows, with a total outflow approaching $4.5 billion. As funds have recently flowed back in, institutional investors’ attitude toward Bitcoin asset allocation appears to be changing.

Data shows that since the beginning of the year, the overall performance of Bitcoin ETFs has faced some pressure. BlackRock’s IBIT saw outflows of over $2.1 billion during the five worst weeks, while Fidelity’s FBTC experienced outflows of about $954 million during the same period. However, since late February, the trend of fund flows has gradually improved. In the week of February 27, Bitcoin ETFs recorded approximately $787 million in net inflows; by the week of March 4, inflows further increased to about $1.15 billion.

Bloomberg senior ETF analyst Eric Balchunas said that with recent weeks of continued fund inflows, the funding gap for Bitcoin ETFs from the start of the year “has almost been fully repaired.” As of March 4, the total net inflow into U.S. spot Bitcoin ETFs reached approximately $55.95 billion, close to the record high of $57.08 billion at the beginning of the year.

It is worth noting that this round of fund inflows is not concentrated in a single fund but shows a broader participation pattern. Previously, inflows were mostly concentrated in IBIT, while other products remained under pressure. However, on March 5, multiple ETFs experienced simultaneous net inflows, indicating that market sentiment may be undergoing a structural change rather than just a rotation of funds.

Meanwhile, Bitcoin prices have also seen a significant rebound. Since the U.S.-Israel military actions against Iran on February 28, Bitcoin has risen approximately 12%. This movement has once again sparked discussions about whether Bitcoin possesses “safe-haven asset attributes.” However, Eric Balchunas cautioned that short-term price fluctuations are not enough to prove this conclusion.

From the market performance perspective, Bitcoin briefly dropped from about $67,000 to $63,038 at the outbreak of the conflict, while gold prices quickly surged to approximately $5,376 per ounce. Subsequently, as market sentiment shifted, Bitcoin prices gradually rebounded, and gold experienced a certain degree of correction.

Analysts point out that the rebound in Bitcoin ETF fund inflows more reflects improved risk appetite among institutions and market sentiment recovery, rather than being driven solely by geopolitical events. In the context of ongoing global macroeconomic uncertainties, the debate over “digital gold” versus gold will likely continue.