United

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

BlackRock

<div class="finbold">
 <p class="paragraph">As Bitcoin (BTC) continues to trade in the red, United States spot exchange-traded funds (ETFs) linked to the crypto have posted record net <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a>s.</p>
 <p class="paragraph">Significantly, BlackRock’s (NYSE: BLK) iShares Bitcoin Trust recorded its first-ever single-day outflow on May 1, as Bitcoin lost support around the $60,000 mark, dropping to as low as $56,000.</p>
 <p class="paragraph">US Bitcoin ETFs saw a total of $563.7 million exiting the market, according to data from <em>Farside </em>shared on May 2. Notably, BlackRock, the largest investment firm globally, saw its streak of positive inflows cut short and recorded its first day of <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a>s totaling $36.9 million.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    7% of U.S. Banks at risk of failure, warns major Consulting firm <span class="self-center text-xs text-slate-500">46 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    AI predicts Ethereum price for May 31, 2024 <span class="self-center text-xs text-slate-500">59 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Buy Alert: Technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> hints Bitcoin bloodbath is over <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How much does the CEO of BlackRock make - Larry Fink's net worth revealed <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/j9GCmYR7LpavJK_FUUORoR2jbZuDAL6AXXQuSndZYFtWKVmUFJ4O1lYB3_mHtnjYvXHsQSO8MTwxUG57T2fEOkGZaXNxavQVwSgs2T1v3EE19XgjPdYXbAp6Srm2AOOcL1rbw5so3sm9z-n_s4NEWhg" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin ETF flow chart. Source: Farside</em>
  </figcaption>
 </figure>
 <p class="paragraph">Elsewhere, Grayscale Bitcoin Trust saw the largest <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a> at $167.4 million, while Fidelity and Ark ETFs experienced withdrawals of $191.1 million and $98.1 million, respectively.</p>
 <h2 class="wp-block-heading" id="h-institutional-interest-in-bitcoin-etf">Institutional interest in Bitcoin ETF</h2>
 <p class="paragraph">Despite the BlackRock ETF recording losses, the interest of institutional investors in the product remains strong. A notable example is BNP Paribas, the second-largest bank in Europe, which recently invested in the BlackRock Bitcoin ETF.</p>
 <p class="paragraph">At the same time, as reported by Finbold, BNY Mellon, the largest custodian bank globally, also invested in ETFs from BlackRock and Grayscale.</p>
 <p class="paragraph">While ETF outflows are contributing to Bitcoin prices’ decline, some market participants maintain a positive outlook. For instance, Bloomberg ETF analyst James Seyffart reassured that Bitcoin ETFs are still functioning well.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Should add — these ETFs are operating smoothly across the board. Inflows and <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a>s are part of the norm in the life of an ETF,” he said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-bitcoin-price-remains-under-pressure">Bitcoin price remains under pressure</h2>
 <p class="paragraph">As the ETFs continue to record outflows, the market remains uncertain, with attention focused on the Federal Reserve monetary policy. Indeed, as things stand, the momentum from ETFs that saw Bitcoin rally to a new record above $73,000 has faded while investors await the gains from the halving event to play out.</p>
 <p class="paragraph">In the meantime, there is speculation that Bitcoin could drop to almost the $50,000 mark. By press time, Bitcoin was trading at $58,191, having gained almost 1% in the last 24 hours. On the weekly timeframe, BTC is down about 9%.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-bitcoin-etf-has-its-first-day-of-outflows-tbt87236.html">https://thebittimes.com/blackrock-bitcoin-etf-has-its-first-day-of-outflows-tbt87236.html</a></p>

BlackRock Bitcoin ETF has its first day of outflows

Table of Contents

TheBitTimes

Další články publikované 2. 5. 2024

Starbucks Crashes After Rug-Pulling NFT Community!

Peter Schiff Discloses Downside Target For Bitcoin, Downtrend Imminent?

Dogecoin (DOGE) Founder Challenges SocialFi’s Potential: An Expert Crypto Analysis

PayPal Partners with MoonPay for Enhanced Crypto Purchases: A New Era for Bitcoin (BTC) and Ether...

Ethereum Price Revisits Key Support, Can Bears Take Over?

Expert tips Solana price to rally 300% in 2024, and this new meme coin to explode

Join our free newsletter for daily crypto updates!