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At the time of publication, the price of Bitcoin is trading at $65,875, down 10.5% from its latest all-time high of $73,797 which it notched on March 14, per CoinGecko data. 

Several market commentators have pointed to slowing Bitcoin ETF flows, the upcoming halving event, and the United States Federal Reserves FOMC meeting on March 20 as justifications for BTC’s depressed price action over the last few days.

However, other analysts have shared an optimistic outlook for Bitcoin ETF flows moving forward.

Grant Englebart, the vice president of investment firm Carlson Group, told Bloomberg TV that only a “handful” of his firm’s advisers had seen clients allocate funds to Bitcoin ETFs, noting that of that allocation, there had been an average investment ratio of 3.5% of total funds.

Commenting on the interview, X Bloomberg ETF analyst Eric Balchunas said that the interview aligned with what he had been hearing from Bitcoin ETF fund issuers — that only a handful of early adopters had been picking up a meaningful allocation to spot Bitcoin ETFs.