BlackRock’s Bitcoin ETF is the only fund with inflows since Friday

cyptouser6 months agoCryptocurrencies News90
1205f261>

BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) has been the only United States-based spot Bitcoin fund to see inflows over the past two days, with all other ETFs posting zero inflows or lower. 

The iShares Bitcoin Trust (IBIT) posted net inflows of $73.4 million on April 15, down from the $111.1 million the day prior. The eight other ETFs — bar Grayscale’s — posted $0 flows over the past two days, per Farside Investors data.

However, IBIT’s inflows weren’t enough to outpace outflows from the Grayscale Bitcoin Trust (GBTC). It saw $110.1 million in outflows on April 15, slowing from April 14’s $166.2 million.

IBIT’s two-day flows in the second column with GBTC’s third from the right. Total flows are in the far right column. Source: Farside Investors.

All 10 spot Bitcoin ETFs saw net outflows across April 14 and 15 — $55.1 million and $36.7 million, respectively.

Total cumulative ETF flows to April 15. Source: Farside Investors

The recent outflows for U.S. Bitcoin ETFs follow a rollercoaster weekend for Bitcoin, which is down 11.6% on the week to $63,410, per Cointelegraph Markets Pro.

Related: Hong Kong’s Ether, Bitcoin ETFs will be ‘lucky to get $500m’

Meanwhile, global Bitcoin investment products saw outflows of $110 million for the week ending April 12, which CoinShares’ research head James Butterfill said highlights the “hesitancy amongst investors.”

Butterfill reported all combined crypto investment products saw net outflows of $126 million last week, and week-on-week volumes perked from $17 billion to $21 billion.

TradingView data shows Bitcoin hovering above its weekly low. Source: Cointelegraph Markets Pro

Iran’s April 13 attack on Israel sent Bitcoin into freefall, hitting a three-week low of $61,918.

The cryptocurrency’s April 20 slated halving — where its issuance is cut in half — is also causing price volatility as traders eye how it will affect Bitcoin’s price action.

X Hall of Flame: Expect ‘records broken’ by Bitcoin ETF: Brett Harrison (ex-FTX US)

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Unveiling Polygon's AggLayer: Insights from co-founder Brendan Farmer

Unveiling Polygon's AggLayer: Insights from co-founder Brendan Farmer

55966e89˃On May 24, Cointelegraph spoke with Brendan Farmer, co-founder of Polygon, to discuss the i...

Thailand will block unlicensed crypto exchanges 'to solve online crimes'

Thailand will block unlicensed crypto exchanges 'to solve online crimes'

1205f261˃Thai authorities have decided to block unlicensed crypto exchanges from operating in the co...

MotoGP’s Gresini racing goes crypto with new fan sponsorship program

55966e89˃Gresini Racing has partnered with MotoGP Guru and Animoca Brands’ subsidiary SPORTPASS to l...

Kraken's Powell criticizes SEC's 'convenience-based' enforcement actions in crypto industry

Kraken co-founder Jesse Powell suggested that the U.S. Securities and Exchanges Commission (SEC) pri...

Solana deploys congestion fix on devnet

Solana developers have released a new version of the validator client software to address persistent...

Aave launches proposal to counter MakerDAO DAI expansion risk

Aave launches proposal to counter MakerDAO DAI expansion risk

25cc9d4a˃Lending protocol Aave (AAVE) launched a new Aave Risk Framework Committee (ARFC) proposal t...