[DigitalToday reporter Yoonseo Lee] U.S. bitcoin spot exchange-traded funds (ETFs) logged net inflows of $1.32 billion in March, turning positive on a monthly basis for the first time in 2026. The first quarter as a whole still ended with about $500 million in net outflows.

According to figures from on-chain analytics firm SoSoValue cited by blockchain media outlet Cointelegraph on Tuesday, the switch to monthly net inflows for bitcoin spot ETFs was the first since October 2025. But March inflows did not offset net outflows of $1.61 billion in January and $207 million in February.

Bitcoin fell more than 22 percent in the first quarter, based on CoinGlass data. That followed a 23 percent drop in the fourth quarter of 2025, marking a second straight quarterly decline. The crypto fear-and-greed index also stayed below 20 for most of the first quarter.

Trading value also declined. Trading in bitcoin spot ETFs totalled about $79 billion in March, below $93 billion in February and $87 billion in January.

As of the end of the first quarter, cumulative net inflows into bitcoin spot ETFs stood at about $56 billion and assets under management (AUM) at about $87.5 billion. By contrast, ethereum spot ETFs posted net outflows of $46 million in March, bringing first-quarter cumulative net outflows to $769 million.

XRP spot ETFs recorded net outflows of about $31 million in March, but still held cumulative net inflows of about $43 million for the first quarter. Solana spot ETFs posted cumulative net inflows of $213 million in the first quarter and had not recorded monthly net outflows even once from their launch in October 2025 through the end of March 2026.

Bitcoin spot ETFs returned to inflows in March, but falling trading value and quarterly net outflows show that the recovery in investor sentiment remains limited. Over the same period, ethereum continued to lag, while XRP and solana showed relatively steady moves. Attention is on whether fund flows in the crypto spot ETF market will gradually diversify away from bitcoin.