In a recent note on cryptocurrency markets, JPMorgan reported that Bitcoin exchange-traded fund (ETF) inflows had reached their highest level since the launch this week.

The investment bank estimated preliminary net sales of U.S. spot Bitcoin ETFs to be approximately $132 million on Thursday, March 14, marking the 44th day of trading for these ETFs.

Analysts at JPMorgan noted that daily gross flows (excluding Grayscale Bitcoin Trust – GBTC) amounted to $389 million, representing a significant decrease from the record high of over $1.1 billion in daily gross flows observed just a few days prior.

Despite the decline in daily flows, the group still reported the largest week of inflows since the launch of Bitcoin ETFs, totaling approximately $2.6 billion in net sales (including GBTC) and $4.0 billion in gross sales (excluding GBTC) for the five trading days ending on March 14.

JPMorgan highlighted that Grayscale’s GBTC redemptions were -$257 million on the mentioned day, while noting that BlackRock (NYSE:BLK)’s IBIT accounted for nearly 90% of the gross flows recorded on that day, with “many other issuers” seeing significantly more muted flow.