Bitcoin ETF

Bitcoin

Spot

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 BlackRock’s Spot Bitcoin exchange-traded fund (ETF) stands out as the only ETF that has consistently attracted inflows since the start of March 2024. 
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While some other ETFs haven’t experienced outflows, they’ve also seen no new assets flowing into their portfolios.
<a style="color: #0000ff;" href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Data </a>from Farside Investors reveals that the top 11 US spot Bitcoin ETFs recorded a collective net outflow of $36.7 million for the trading day ending Monday, April 15, 2024. Only BlackRock’s $iBIT recorded inflows, totalling $73.4 million for the day. Meanwhile, Grayscale’s converted Bitcoin Trust ETF ($GBTC) recorded net outflows exceeding $110.1 million.
Over the past five trading days, $IBIT has seen consecutive inflows totalling $128.7 million, $33.3 million, $193.1 million, $111.1 million, and $73.4 million, respectively. In contrast, the nine other Spot Bitcoin ETFs remained stagnant, with no assets flowing in or out of their portfolios over the same period. Only $GBTC saw outflows, totalling $166.2 million and $110.1 million over the past two business days.
Within the same timeframe (Friday and Monday), US spot Bitcoin ETFs collectively experienced net outflows of $55.1 million and $36.7 million, respectively.
In a parallel development, Bitcoin has undergone a notable shift in trend as sellers take control of the market. According to CoinMarketCap <a style="color: #0000ff;" href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">data</a>, the cryptocurrency witnessed a significant price drop from a high of $71,222 on Friday to close at $67,195.Cap. Subsequently, it fell further to a low of $62,332 on Monday, with its current price hovering around $62,140.
Furthermore, BlackRock’s $IBIT continues to amass assets, signalling sustained interest and support from investors in the ETF. BlackRock’s portfolio currently boasts over $15.32 billion in assets under management (AUM), second only to Grayscale’s $GBTC, valued at approximately $20 billion.
Meanwhile, Hong Kong appears to have followed the United States in launching ETFs within its jurisdiction. The city’s regulator recently <a style="color: #0000ff;" href="https://defi-planet.com/2024/04/hong-kong-set-to-welcome-crypto-spot-etfs-as-three-issuers-secure-regulatory-approvals/" rel="noopener noreferrer nofollow">greenlit the launch of select spot Bitcoin and Ethereum ETFs</a>. The potential issuers of these ETFs released statements yesterday, April 15, informing the public of the success of their applications.&nbsp;
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READ MORE:&nbsp;
<ol>
 <li style="font-weight: 400;" aria-level="1"><a style="color: #0000ff;" href="https://defi-planet.com/2024/03/blackrocks-ishares-bitcoin-etf-surpasses-222000-btc-in-holdings/" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin ETF Surpasses 222,000 BTC in Holdings</a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://defi-planet.com/2024/04/fidelitys-fbtc-surpasses-10-billion-aum-milestone-cements-place-as-third-largest-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">Fidelity’s $FBTC Surpasses $10 Billion AUM Milestone, Cements Place as Third-Largest Spot Bitcoin ETF</a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://defi-planet.com/2024/03/crypto-community-react-blackrocks-bitcoin-etf-outmatch-the-largest-silver-etf/" rel="noopener noreferrer nofollow">Crypto Community React BlackRock’s Bitcoin ETF Outmatch the Largest Silver ETF</a></li>
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The post <a href="https://defi-planet.com/2024/04/blackrocks-ibit-etf-bucks-trend-with-continuous-inflows-amidst-market-stagnation-in-the-past-five-days/" rel="noopener noreferrer nofollow">BlackRock’s $IBIT ETF Bucks Trend with Continuous Inflows Amidst Market Stagnation In The Past Five Days</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

BlackRock’s $IBIT ETF Bucks Trend with Continuous Inflows Amidst Market Stagnation In The Past Five Days

DeFi Planet

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