Bitcoin ETF

Bitcoin

April

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/how-did-spot-bitcoin-etfs-perform-in-april/" data-wpel-link="internal">How Did Spot Bitcoin ETFs Perform in April?</a><br></p>
<p style="text-align: justify">In the US, the excitement surrounding spot <strong><a href="https://coin-turk.com/bitcoin-btcye-fare-zehiri-benzetmesi-yapan-ceonun-sirketini-geride-birakti" data-wpel-link="internal">Bitcoin</a></strong> exchange-traded funds (ETFs) largely faded in April, coinciding with a significant drop in the price of the largest cryptocurrency, ending the month with a total net outflow of $343.5 million. This marked the end of a three-month inflow streak for nine new spot <a href="https://en.coin-turk.com/bitcoin-btc-falls-again-analyst-points-to-critical-price-levels/" data-wpel-link="internal">Bitcoin</a> ETFs.</p> 
<h2 style="text-align: justify" id="strong-spot-bitcoin-etfs-april-report-card-strong"><strong>Spot Bitcoin ETFs’ April Report Card</strong></h2> 
<p style="text-align: justify">In the US, nine spot Bitcoin ETFs saw heavy demand in January, February, and March with inflows of $1.5 billion, $6 billion, and $4.6 billion respectively. However, after a peak daily inflow of $1.05 billion on March 12, Bitcoin’s price dropped 18% from an all-time high of $73,836 on March 14 to the end of April, significantly reducing inflows into ETFs.</p> 
<p style="text-align: justify">In April, the Grayscale’s high-fee GBTC fund led the outflows with $2.5 billion throughout the month. Ark Invest’s ARKB saw a net outflow of $86.3 million, while Valkyrie’s BRRR experienced a minor net outflow of $0.3 million. Despite these outflows, Fidelity’s FBTC and Bitwise’s BITB faced initial daily outflows but overall saw net inflows in April.</p> 
<p style="text-align: justify"><strong>BlackRock</strong>‘s IBIT emerged as the dominant player among spot Bitcoin ETFs in terms of net inflows, seeing $1.5 billion in April. IBIT was followed by Fidelity’s FBTC with a net inflow of $556.1 million and Bitwise’s BITB with $125 million. However, IBIT’s 71-day inflow streak ended on April 23, followed by five consecutive days of zero fund inflows. Ark Invest’s ARKB was the only spot Bitcoin ETF to see a net inflow on April 30, with a reported $3.6 million.</p> 
<h2 style="text-align: justify" id="strong-ibit-prepares-to-overtake-gbtc-strong"><strong>IBIT Prepares to Overtake GBTC</strong></h2> 
<p style="text-align: justify">Despite a recent series of zero flows, IBIT appears poised to surpass GBTC in terms of assets under management (AUM). IBIT currently holds 274,462 <a href="https://en.coin-turk.com/bitcoin-price-drops-analysts-and-reports-speak-to-investors-heres-what-you-need-to-know/" data-wpel-link="internal">BTC</a> ($15.6 billion) in AUM, rapidly approaching GBTC’s 296,714 BTC ($16.9 billion).</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-346649" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-BTC-GBTC.png" alt="" width="969" height="430"></p> 
<p style="text-align: justify">Since the start of spot Bitcoin ETF trading, the converted GBTC spot ETF has faced a 52% decrease in AUM, while the rise in Bitcoin’s price resulted in a 41% decrease in the dollar value of the fund’s AUM.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/how-did-spot-bitcoin-etfs-perform-in-april/" data-wpel-link="internal">How Did Spot Bitcoin ETFs Perform in April?</a></h5>

How Did Spot Bitcoin ETFs Perform in April?

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