United

Bitcoin ETF

Bitcoin

Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced net outflows yesterday, following a streak of four consecutive days of inflows.
<h2 id="gbtc-outflows-outweigh-inflows-in-the-us-spot-bitcoin-etf-market">GBTC Outflows Outweigh Inflows in the US Spot Bitcoin ETF Market</h2>
The largest contributor to this trend was Grayscale's GBTC spot ETF, which recorded a significant single-day net outflow of over $303 million.
In contrast, other Bitcoin ETFs observed net inflows during the same period; Bitwise Bitcoin ETF led the way with net inflows of over $40 million, followed by BlackTock's iShares Bitcoin Trust with net inflows of over $21 million.
The cumulative impact of these movements led to a total net outflow of approximately $224 million in spot Bitcoin ETFs, marking a notable divergence in investor sentiment in the market.
Related News: <a href="https://en.bitcoinsistemi.com/bitcoin-exchange-okx-announced-that-it-is-investing-in-this-project-in-the-solana-sol-ecosystem/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Exchange OKX Announced That It Is Investing in This Project in the Solana (SOL) Ecosystem!</a>
More broadly, nearly $1 billion in Bitcoin flowed into US-based bitcoin ETFs over the past week, with BlackRock's product absorbing most of those inflows.
Despite recent outflows in the spot bitcoin ETF market, the general trend shows continued investor interest in Bitcoin-focused investment vehicles.
However, it is worth noting that cumulative spot Bitcoin ETF volumes have been on a steady decline since reaching peak levels in early March.
This downward trend underscores the changing dynamics in the cryptocurrency market, which is influenced by factors such as regulatory developments, market sentiment and macroeconomic conditions.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/grayscales-gbtc-outflows-continue-to-suppress-bitcoin-here-is-the-latest-situation-in-the-bitcoin-etf-market/" rel="noopener noreferrer nofollow">Grayscale's GBTC Outflows Continue to Suppress Bitcoin! Here is the Latest Situation in the Bitcoin ETF Market</a>

Grayscale's GBTC Outflows Continue to Suppress Bitcoin! Here is the Latest Situation in the Bitcoin ETF Market

Table of Contents

Bitcoin Sistemi EN

Other articles published on Apr 9, 2024

ProBit Global Enlists Xensei, Trades XSEI Tokens: Report

Ethereum Giants Stake Big on Raffle Coin Inspiring a Wave of Litecoin & Polkadot Investors Eyeing...

Spot Bitcoin ETF Inflows Exceed GBTC Outflows

A16z Crypto Launches Jolt to Boost Blockchain with ZK Proofs

Raffle Coin Draws in Binance Coin & Tether USDt Traders Anticipated to Outperform Major Altcoins ...

Forget DOGE And WIF, $RECQ Presale Could Give You 100x In Returns In Wild Memecoin Mania

Join our free newsletter for daily crypto updates!