Bitcoin ETF

Bitcoin

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<p>Blackrock Bitcoin ETF has seen incremental growth in the past week. The ascending performance comes as Bitcoin ETFs saw a huge demand during the period. However, snapping the seven-day winning streak, the exchange-traded funds saw minor outflows on Friday. Despite the slight volatility, IBIT remains on track to hit Bloomberg’s inflow estimates by the end of the year.</p> 
<h2 id="blackrock-inflows-on-constant-rise">Blackrock Inflows on Constant Rise</h2> 
<p>According to <a rel="nofollow" href="https://sosovalue.xyz/assets/etf" target="_blank">SoSoValue</a> reports, yesterday’s net outflow of US$139 million from the Bitcoin spot ETF was the first in seven trading days. The Grayscale ETF GBTC experienced a $492 million net outflow in a single day. BlackRock ETF IBIT saw a net inflow of $202 million in a single day, and it has a total historical net inflow of $7.96 billion as of right now. The $202 million deposited into BlackRock’s iShares Bitcoin ETF (IBIT), is a significant decrease from the most recent inflows. BlackRock’s asset holdings increased by over $10.5 billion and its net inflow reached over $7.95 billion after the most recent inflow.</p> 
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<h2 id="blackrock-still-on-track-to-beat-market-estimates">Blackrock Still on Track to Beat Market Estimates</h2> 
<p>According to Bloomberg analyst Eric Balchunas Blackrock’s $7.2 billion in inflows after just two months of debut are “definitely looking good”. The numbers put IBIT on track to beat Bloomberg’s inflows prediction. However, Balchunas does caution traders that a lot of things can happen in the upcoming ten months that could alter the upward trajectory of Blackrock’s Bitcoin ETF. Still, if the current trend follows, the milestone seems rather achievable.</p> 
<p>Balchunas’ remarks also come at a time when <a href="https://coingape.com/grayscales-optimism-on-bitcoin-etfs-rises-with-mainstream-acceptance/" target="_blank" rel="noopener">Grayscale</a> has maintained its bullish position on Bitcoin ETFs despite consistent withdrawals since Grayscale’s Bitcoin ETF debut.</p> 
<h2 id="will-bitcoin-etfs-continue-the-bull-run">Will Bitcoin ETFs continue the Bull Run?</h2> 
<p>After rising 45% last month, the price of <a href="https://coingape.com/bitcoin-etf-net-inflow-last-week-bloomberg-hints-at-fall/" target="_blank" rel="noopener">Bitcoin</a> has been sideways for the past 24 hours. At $62,046, the price has reached a 24-hour low of $57,093 and a high of $63,913, respectively. In addition, there has been a 35% drop in trading volume over the past day, suggesting that traders are becoming less interested.</p> 
<p>However, despite Bitcoin’s price being range-bound, exchange-traded fund specialists and market aficionados alike concur that BTC ETFs are outperforming key market indicators. Future predictions indicate that the market size and assets under management for exchange-traded funds (ETFs) that track Bitcoin will increase. The market now holds the view that all exchange-traded funds provide investors with both long-term viability and significant short-term returns.</p> 
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<p>The post <a href="https://coingape.com/bitcoin-etf-blackrock-stays-on-track-to-beat-market-estimates-despite-volatility/">Bitcoin ETF: Blackrock Stays on Track to Beat Market Estimates Despite Volatility</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin ETF: Blackrock Stays on Track to Beat Market Estimates Despite Volatility

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