Overview
- Since late February, SPDR Gold Shares (GLD) has shed roughly 2.7% of assets while BlackRock’s iShares Bitcoin Trust (IBIT) has added about 1.5%, according to JPMorgan.
- GLD recorded a $3 billion single-day withdrawal on March 6, its largest daily outflow in more than two years, per The Kobeissi Letter.
- U.S. spot Bitcoin ETFs posted $906 million in net inflows over the 30 days ending March 11, reversing about $1.9 billion in outflows from the prior month.
- JPMorgan reports that Bitcoin’s volatility profile is tightening, which it links to deeper institutional participation and improving market liquidity.
- U.S. spot Bitcoin ETFs account for roughly 9% of total BTC spot volume, far below the 30–40% ETF share in U.S. equities, indicating significant room for further adoption.