Bitcoin ETFs will see their first green day after losing nearly $1 billion last week.

The funds fetched 228.97 BTC yesterday after a straight week of issuance for spot Bitcoin ETFs. This is the first time since Friday March 15 that net inflows have been positive for Bitcoin ETFs.

Last week, when bitcoin was hit by erratic volatility, ETFs saw nearly $1 billion in outflows.

At today's bitcoin price, that means the ETFs took in about $15 million. BTC is currently trading at $71,014.23 after crossing $70,000 yesterday afternoon. BTC's market capitalization is now just shy of $1.4 trillion, and the world's oldest and largest cryptocurrency saw $47 billion worth of coins change hands in the past day.

Fidelity's Wise Home Bitcoin Fund (FBTC) was the winner, seeing an estimated $262 million in BTC inflows on Monday. BlackRock's iShares Bitcoin Trust ( IBIT ) saw $35 million worth of new shares, followed by Franklin Templeton's Franklin Bitcoin ETF ( EZBC ) at $20.5 million.

It was a case of Wall Street titans growing their assets under management faster than their crypto-focused peers like Kathy Woods' ARK Invest or VanEek.

Outside the group is the Greyscale Bitcoin Trust (GBTC), which has been trading on OTC desks since 2013 before switching to a spot ETF in January. More than $14 billion has been withdrawn by investors since the fund's conversion.

Despite the outflow of GBTC, experts and analysts agree that the success of the new ETFs shows that there is demand for BTC from institutions.

“I think you can't decouple the new interest in Bitcoin with the announcement of spot ETFs,” Coinbase Asia-Pacific Managing Director John O'Loghlen said recently. “I think that reality has set in and we have to see where it goes from there.”

Meanwhile, publicly traded crypto exchange Coinbase has seen its shares get a boost from BTC gains. The San Francisco company's stock closed Monday at $279.71 on the Nasdaq under the ticker symbol COIN — a 14 percent gain in one day. And in pre-market trading Tuesday morning, the stock was already up another 2% to $285.60.

COIN has seen the stock become more closely related to Bitcoin as ETF stocks act as a guardian for the 206,000 BTC support. Analysts are looking forward to seeing what happens to Coinbase's bottom line during its Q1 2024 earnings call, which is expected to take place in May.