The cryptocurrency market has witnessed a significant movement in ETF inflows and outflows, with a record US$2.9 billion flooding into crypto funds last week, primarily backing Bitcoin ETFs. This surge pushed the year-to-date inflows to US$13.2 billion, surpassing the full 2021 inflows of $10.6 billion. Despite this, Grayscale's GBTC spot bitcoin ETF experienced a record daily outflow of -$642.5 million, contributing to a net outflow of -$154.3 million for Bitcoin ETFs on March 18, marking the first net outflow since March 1. This outflow coincided with a notable drop in Bitcoin's price to $65.5k, raising concerns among analysts about potential price declines if demand falters. Blackrock's inflows attempted to counterbalance the significant outflows from GBTC, with IBIT alone countering 70% of GBTC's outflows.