Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

The spot Bitcoin ETF sector is again in the red zone, experiencing a capital outflow of $217 million on April 25. 
According to SoSo Value, funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT). This is the second day in a row that the BlackRock fund has not recorded an inflow of capital. 
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 <img loading="lazy" decoding="async" width="1024" height="424" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-26-at-16.33.19-1024x424.png" alt="BlackRock’s Bitcoin ETF sees $217m outflow - 28"> 
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In addition to the Grayscale Bitcoin Trust ETF (<a href="https://crypto.news/tag/GBTC/" target="_blank" rel="">GBTC</a>), outflows&nbsp;were recorded&nbsp;in four ETFs, including the one from Fidelity Investments and ARK Invest/21Shares. 
Despite the latest trend, IBIT was among the top 10 <a href="https://crypto.news/tag/etf/" target="_blank" rel="">ETFs</a> with a long period of uninterrupted capital inflows. However, since the beginning of March 2024, capital inflows into the fund have&nbsp;declined. 
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 <img loading="lazy" decoding="async" width="1024" height="369" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-26-at-16.32.23-1024x369.png" alt="BlackRock’s Bitcoin ETF sees $217m outflow - 29"> 
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 Source: SoSo Value
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The average volume of capital inflows into spot&nbsp;<a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> ETFs has also slowed significantly in recent weeks.&nbsp;Bitwise CEO Hunter Horsley says many institutional players in the market are still secretly preparing for large infusions of funds into crypto-based instruments. 
Horsley&nbsp;is convinced&nbsp;that&nbsp;spreading a new class of digital assets will help the crypto market become even more attractive to investors. 
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 By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF. They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only. Going to be an amazing new constituent in the…— Hunter Horsley (@HHorsley) <a href="https://twitter.com/HHorsley/status/1781808283067834426?ref_src=twsrc%5Etfw" target="_blank" rel="">April 20, 2024</a>
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Recently, investor interest in cryptocurrency-based products <a href="https://crypto.news/coinshares-crypto-investors-remain-skeptical-weekly-outflows-hit-206m/" target="_blank" rel="">has weakened</a>. Over the past week,&nbsp;$206 million was withdrawn&nbsp;from crypto products for large professional investors, CoinShares analysts have noted. 
 You might also like: <a href="https://crypto.news/spot-ethereum-etfs-reportedly-facing-potential-sec-denial/" rel=""> Spot Ethereum ETFs reportedly facing potential SEC denial </a>

BlackRock’s Bitcoin ETF sees $217m outflow

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