According to Bloomberg analyst Eric Balchunas, the trading volume for the spot Bitcoin ETF market in March exceeded $111 billion, a significant increase from the $42.2 billion recorded in February.

The new instrument was introduced on the American stock market in January and generated increasing interest, reaching its peak in mid-March when Bitcoin reached an all-time high of over $73,000.

However, towards the end of March, there was a decrease in institutional investor interest in Bitcoin ETFs, resulting in a significant outflow of funds. As of this week, the outflow reached $85 million according to data from Coinglass.

This could potentially lead to a drop in Bitcoin value below $60,000 if the outflow continues for several consecutive days.

However, experts predict that there may be increased support from funds such as Grayscale, BlackRock, and Fidelity, which had the highest trading volume in the spot ETF market.

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