Bitcoin Spot ETFs Break 4-Week Positive Streak With $296M Outflow

bitcoinistPubblicato 2026-03-30Pubblicato ultima volta 2026-03-30

Introduzione

Bitcoin spot ETFs ended a four-week positive streak with $296.18 million in net outflows last week, marking the seventh weekly outflow of 2026. The decline was largely driven by significant redemptions from BlackRock’s IBIT and Grayscale’s GBTC, among others. Fidelity’s FBTC was the only fund to record a net inflow. Meanwhile, Ethereum spot ETFs also saw outflows for the second consecutive week. In other news, Morgan Stanley has filed to launch its own Bitcoin spot ETF, which would feature the lowest fee in the market at 0.14% if approved.

Bitcoin price struggles over the last week were also in its ETF market, as the Bitcoin spot ETFs posted their first net outflows in a month. Before this trading session, these investment funds had experienced a 4-week bullish streak, resulting in a combined net inflow of $2.21 billion.

Bitcoin ETFs See Red Again, While Potential New Member Awaits

According to data from SoSoValue, the combined trading activity across the 12 Bitcoin Spot ETFs resulted in a negative inflow of $296.18 million over the past week. This development represents the seventh weekly outflow of 2026, and the fifteenth since the crypto bear market commenced in October 2025. A daily analysis shows the net withdrawal performance is highly linked to consecutive outflows on Thursday and Friday, combinedly valued at over $396 million. For context, the $225.48 million outflow registered on Friday represents the market’s largest net outflow since March 3rd.

Looking at individual fund performance, BlackRock IBIT experienced the largest net redemptions valued at $158.07 million. Meanwhile, Grayscale’s GBTC, Bitwise’s BITB, and Ark/21 Shares ARKB also registered a total netflow of $169.26 million. ETFs such as Grayscale’s BTC and VanEck’s HODL also posted respective net withdrawals of $5.45 and $10.28, marking minor contributions to the general market’s negative performance. On the other hand, Fidelity’s FBTC accounted for the only recorded net inflow, valued at $46.88 million.

Other ETFs, such as Invesco’s BTCO, Valkyrie’s BRRR, Wisdom Tree’s BTCW, Franklin Templeton’s EZBC, and Hashdex’s DEFI, all experienced zero weekly net flows. At press time, the Bitcoin Spot ETF reported a cumulative total net inflow of $55.93 billion and total net assets of $84.77 billion.

Meanwhile, recent reports indicate that American banking giant Morgan Stanley has filed to launch its own Bitcoin spot ETF under the ticker MSBT. According to Bloomberg analyst Eric Balchunas, the proposed fund will offer the lowest fee in the market at 0.14%, just below Grayscale’s 0.15%. If approved by the SEC, MSBT will be the first Bitcoin spot ETF directly listed by a US bank. For context, Morgan Stanley ranks as a leading financial services operator in the world with an asset under management of $1.9 trillion and a market cap of $251 billion.

Related Reading: Greatest Wealth Transfer Is about To Happen For Altcoins, Analyst Warns

Ethereum Spot ETFs Record Consecutive Outflows

In separate news, the Ethereum ETFs extended their negative performance for a second consecutive week after registering weekly net withdrawals of $206.58 million. At the time of writing, the cumulative total net inflow for the Ethereum spot market is $11.52 billion, while total net assets are valued at $11.33 billion.

BTC trading at $66,859 on the daily chart | Source: BTCUSDT chart on Tradingview.com

Domande pertinenti

QWhat was the total net outflow for Bitcoin spot ETFs over the past week, breaking their 4-week positive streak?

AThe total net outflow for Bitcoin spot ETFs over the past week was $296.18 million.

QWhich Bitcoin spot ETF was the only one to record a net inflow, and what was the amount?

AFidelity's FBTC was the only Bitcoin spot ETF to record a net inflow, valued at $46.88 million.

QWhat is the proposed management fee for Morgan Stanley's new Bitcoin spot ETF (MSBT), and how does it compare to the competition?

AMorgan Stanley's proposed Bitcoin spot ETF (MSBT) has a management fee of 0.14%, which is the lowest in the market and just below Grayscale's fee of 0.15%.

QHow did the Ethereum spot ETFs perform in the same week, and what was the amount of their net outflow?

AThe Ethereum spot ETFs also recorded a negative performance for a second consecutive week, with net withdrawals of $206.58 million.

QWhich specific Bitcoin spot ETF experienced the largest net redemptions, and what was the value?

ABlackRock's IBIT experienced the largest net redemptions, valued at $158.07 million.

Letture associate

The Value Distribution of Stablecoins

**Summary: The Value Distribution of Stablecoins** The article argues that stablecoins are evolving from mere trading tools into broader channels for dollar access. It divides the stablecoin ecosystem into four layers to analyze how value is distributed: 1. **Issuance Layer:** Mints stablecoins, holds reserve assets, and captures the spread between reserve yield and user costs (e.g., Tether, Circle). This layer currently earns the largest profit margin. 2. **Infrastructure Layer:** Connects stablecoins to the traditional financial system, handling fiat on/off-ramps, banking integration, compliance (KYC/AML), and asset management (e.g., Bridge, BVNK). This is the "unglamorous" but critical work, building the essential bridges between crypto and real-world finance. 3. **Acquiring/Distribution Layer:** Integrates stablecoins into merchant systems, manages payment flows, and provides enterprise financial software (e.g., Stripe, Coinbase). They act as the access point for businesses. 4. **Application Layer:** The end-users and businesses that ultimately use stablecoins for payments, settlements, or as a store of value. They benefit from convenience but have little pricing power. The core thesis is that while the issuance layer currently dominates profits, the often-overlooked **infrastructure layer holds significant long-term potential**. The real challenge and barrier to mass adoption is not the on-chain transfer of stablecoins (which is simple), but the complex "last mile" integration into existing business workflows, banking systems, and regulatory frameworks across different countries. Companies in this layer are currently in a "land grab" phase, investing heavily to build networks, secure bank partnerships, and establish compliance pathways. While their position is currently pressured by the profitable issuers above and distribution platforms below, the article suggests that if stablecoins become a default financial rail for businesses, the infrastructure providers who have done the hard work of integration will ultimately gain strong pricing power and become entrenched, essential players.

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The Value Distribution of Stablecoins

The Value Distribution of Stablecoins The article argues that stablecoins are evolving from a mere trading tool into a broad "dollar channel." It analyzes the industry's value chain through four layers: 1. **Issuance Layer (e.g., Tether, Circle):** The top layer that mints stablecoins, holds reserve assets, and captures the thickest interest rate spread. 2. **Infrastructure Layer (e.g., Bridge, BVNK):** Connects stablecoins to the traditional financial system, handling critical but complex "dirty work" like fiat on/off-ramps, banking integration, compliance (KYC/AML), and cross-border settlement. 3. **Acquiring/Distribution Layer (e.g., Stripe, Coinbase):** Embeds stablecoins into merchant systems, manages payment flows, and integrates with enterprise software. 4. **Application Layer:** End-users and businesses that ultimately use stablecoins for payments, settlement, or storing value. The author posits that while the issuance layer currently captures the most profit, the most overlooked and potentially critical layer is infrastructure. The core challenge for stablecoin adoption isn't the on-chain transfer (which is simple), but bridging the gap between blockchain and the real-world financial system. This involves solving practical problems for businesses: fiat conversion, reconciliation, tax handling, and user onboarding. Infrastructure companies are currently in a difficult "land-grab" phase—building networks, securing banking relationships, and achieving compliance country-by-country. They face pressure from both the profitable issuance layer above and distribution platforms below. However, the author suggests this layer is building a crucial moat. Once stablecoins become a default business rail, the infrastructure players who have done the hard work of integration may gain significant, durable value and pricing power.

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Why Is Nvidia Borrowing $20 Billion When It's Not Short of Cash?

Nvidia's recent announcement to issue at least $20 billion in senior notes, despite holding a strong cash position with over $48.6 billion in free cash flow last quarter, is not a sign of financial need. Instead, it represents a strategic move to leverage its high credit rating (recently upgraded to AA by S&P) to secure low-cost, long-term debt. This capital will support long-term AI infrastructure investments, data centers, R&D, supply chain prepayments, and strategic investments, while allowing the company to continue aggressive shareholder returns through stock buybacks and dividends. The decision reflects a mature capital management strategy: using debt to finance long-term growth assets is more efficient and less dilutive to shareholders than equity financing. It signals that Nvidia, like other tech giants (Alphabet, Meta, Amazon), is entering a new phase of heavy AI capital expenditure, shifting from a pure growth story to a story about capital allocation, credit strength, and long-term ecosystem positioning. The key question for investors is whether Nvidia can maintain its high cash flow generation and ensure that returns from these AI investments justify the cost of capital over the long term. The bond issuance amplifies its expansion capabilities but also ties its valuation more closely to the broader AI investment cycle's sustainability and profitability.

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Why Is Nvidia Borrowing $20 Billion When It's Not Short of Cash?

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Liberland Fires Tech Secretary After Alleged Blockchain And Website Takeover Attempt

Liberland's congress has voted to remove Technology Secretary Dorian Stern Vukotić, following a resolution accusing him of attempting to hijack the Liberland.org domain, removing administrative multisig protections, blocking the president from voting, and launching unauthorized tokens. The incident serves as a case study in blockchain governance, highlighting risks that go beyond smart contracts to include control over domains, admin keys, and off-chain authority. For the crypto industry, it underscores the need to scrutinize decentralization claims against operational realities, where a small group can still compromise governance. The story reflects a broader market shift where infrastructure security and governance are becoming as critical as price action. Editorial framing should treat the development as a verified information signal about governance risks, avoiding overstatement of Liberland's legal status and leaving room for follow-up evidence.

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Liberland Fires Tech Secretary After Alleged Blockchain And Website Takeover Attempt

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How to Do Research Well: Deliberately Practice the Real Skills That Matter

No one truly teaches you how to do research. You're often given a desk, a pre-selected problem, and vague instructions to "create something new." Consequently, many people reverse-engineer the job based on visible outputs—papers, posts, announcements—learning only how to *appear* like a researcher rather than how to *become* one. True research capability is built from stacking small, trainable skills, nearly all of which can be developed through deliberate practice. **Pick Your Own Problem:** Most researchers absorb problems from advisors or trends, lacking the underlying reasoning. Choosing a problem you genuinely care about, as John Schulman advises, leads to original work. Develop "taste" like a muscle: predict experiment outcomes, guess paper results from methods, and track which findings remain important over time. **Upgrade Your Inputs:** Relying on shared reading lists (arXiv hot lists, filtered group chats) leads to unoriginal conclusions. Undervalued old literature often holds crucial insights (e.g., MoE, LSTM, backpropagation). Richard Sutton's "The Bitter Lesson" or Claude Shannon's 1952 talk on creative thinking are more predictive than lengthy modern surveys. Breadth matters as much as depth: draw from neuroscience, mechanism design, hardware knowledge, and honest statistics. Read papers directly, especially appendices and limitations sections. **Write Everything Down:** As Paul Graham noted, writing exposes flaws in seemingly mature ideas. Writing is the cheapest defense against self-deception. Following Feynman's principle, Darwin programmatically wrote down facts contradicting his theory to combat memory bias. Maintain a detailed log of hypotheses, setups, predictions, results, and updated understandings. Reviewing past logs fosters essential humility.

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How to Do Research Well: Deliberately Practice the Real Skills That Matter

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