Bitcoin ETF: net inflow in March 2026 totaled $1.2 billion — short-term spike or structural shift? The Bitcoin ETF recorded a net inflow of $1.24 billion in March 2026. This figure not only ended the previous two-month period of fund stagnation but also approached the quarterly average level of Q4 2025 in total volume. Looking at the timeline, the pattern of fund inflow clearly shows a "low first, then high" trend: in the first half of the month, the average daily inflow was about $28 million, and in the second half, it increased to over $75 million. This acceleration is not caused by a single event but results from the convergence of vectors across three directions: macro expectations, asset valuation ratios, and market structure. An even more significant change is that this round of inflows was not accompanied by a proportional increase in биткоин's price. As of April 1, 2026, according to Gate quotes, биткоин is trading at $68,550 USD, with a 24-hour increase of 2.7%, while ETF inflows have increased several times. This indicates that current funds are more focused on "position supplementation" and "structural rebalancing" rather than simple chasing of growth. The market is transitioning from a volatile phase, largely driven by retail sentiment, to a "inventory optimization" phase driven by institutional capital.