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BlackRock’s Bitcoin ETF Attracts $73M Inflows amidst US Bitcoin ETF Outflows
The post BlackRock’s Bitcoin ETF Attracts $73M Inflows amidst US Bitcoin ETF Outflows appeared on BitcoinEthereumNews.com. Coinspeaker BlackRock’s Bitcoin ETF Attracts $73M Inflows amidst US Bitcoin ETF Outflows The Bitcoin market has been experiencing a period of mixed signals in the past week. While the world’s leading cryptocurrency grappled with substantial price drop and net withdrawals from diverse investment vehicles, BlackRock’s iShares Bitcoin Trust (IBIT) stood out as a beacon of optimistic sentiment within this turbulent landscape. Data from Farside Investors reveals that BlackRock’s IBIT, the only spot Bitcoin ETF in the United State, managed to gain a net inflow of $73.4 million on April 15. However, this inflow signifies a reduction from the $111.1 million observed on the previous day. According to SoSoValue, yesterday’s total net outflows of Bitcoin spot ETFs amounted to $36.67 million. The Grayscale ETF GBTC had a net outflow of $110 million in a single day, with GBTC’s historical net outflow now standing at $16.38 billion. The Bitcoin spot ETF with the… pic.twitter.com/92c3lbmn7W — Wu Blockchain (@WuBlockchain) April 16, 2024 Conversely, the eight remaining spot Bitcoin ETFs, apart from Grayscale’s Bitcoin Trust (GBTC), experienced zero inflows during this period. GBTC, the largest Bitcoin trust globally, continues to face outflows, with $110.1 million exiting the fund on April 15, a decrease from $166.2 million on April 14. Bitcoin ETF Outflows Follow BTC Price Drop These recent outflows align with a period of turbulence for Bitcoin itself. Currently, trading at the price of $63,303, with a market capitalization of $1.25 trillion, the leading cryptocurrency experienced an 11.60% drop during the past week, dampen investor interest, as indicated by the outflows observed across various Bitcoin investment products. James Butterfill, the head of research at CoinShares, reveal that worldwide Bitcoin investment vehicles experienced a net outflow amounting to $110 million during the week ending on April 12. Furthermore, Butterfill highlights that the collective crypto investment…
The post BlackRock’s Bitcoin ETF Attracts $73M Inflows amidst US Bitcoin ETF Outflows appeared on BitcoinEthereumNews.com.
Coinspeaker BlackRock’s Bitcoin ETF Attracts $73M Inflows amidst US Bitcoin ETF Outflows The Bitcoin market has been experiencing a period of mixed signals in the past week. While the world’s leading cryptocurrency grappled with substantial price drop and net withdrawals from diverse investment vehicles, BlackRock’s iShares Bitcoin Trust (IBIT) stood out as a beacon of optimistic sentiment within this turbulent landscape. Data from Farside Investors reveals that BlackRock’s IBIT, the only spot Bitcoin ETF in the United State, managed to gain a net inflow of $73.4 million on April 15. However, this inflow signifies a reduction from the $111.1 million observed on the previous day. According to SoSoValue, yesterday’s total net outflows of Bitcoin spot ETFs amounted to $36.67 million. The Grayscale ETF GBTC had a net outflow of $110 million in a single day, with GBTC’s historical net outflow now standing at $16.38 billion. The Bitcoin spot ETF with the… pic.twitter.com/92c3lbmn7W — Wu Blockchain (@WuBlockchain) April 16, 2024 Conversely, the eight remaining spot Bitcoin ETFs, apart from Grayscale’s Bitcoin Trust (GBTC), experienced zero inflows during this period. GBTC, the largest Bitcoin trust globally, continues to face outflows, with $110.1 million exiting the fund on April 15, a decrease from $166.2 million on April 14. Bitcoin ETF Outflows Follow BTC Price Drop These recent outflows align with a period of turbulence for Bitcoin itself. Currently, trading at the price of $63,303, with a market capitalization of $1.25 trillion, the leading cryptocurrency experienced an 11.60% drop during the past week, dampen investor interest, as indicated by the outflows observed across various Bitcoin investment products. James Butterfill, the head of research at CoinShares, reveal that worldwide Bitcoin investment vehicles experienced a net outflow amounting to $110 million during the week ending on April 12. Furthermore, Butterfill highlights that the collective crypto investment…
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