U.S.-listed spot Bitcoin ETFs posted $1.32 billion in net inflows in March, breaking a four-month streak of outflows, according to SoSoValue data.

The earlier run of redemptions aligned with a steep market downturn, during which Bitcoin dropped करीब 50% from its October all-time high of $126,000. Monthly outflows reached $3.5 billion in November, followed by $1.1 billion in December, $1.6 billion in January, and $206 million in February.

March also marked a turning point in price action, with Bitcoin recording its first positive monthly close in six months—suggesting that downside momentum may be fading.

Despite the drawdown, ETF assets under management have remained relatively stable. Holdings declined from roughly 1.38 million BTC in October to a low near 1.28 million BTC, a drop of about 7%, before recovering to approximately 1.31 million BTC, based on CheckonChain data.

However, most ETF investors are still underwater. The average cost basis is estimated around $84,000, compared with a current spot price near $68,000, leaving many positions in the red even as inflows resume.