Bitcoin ETF

Bitcoin

Million

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According to the most recent&nbsp;<a href="https://twitter.com/FarsideUK/status/1778630563718475785" rel="noopener noreferrer nofollow">data</a>, BlackRock's iShares Bitcoin Trust (IBIT) managed to record an impressive $192 million worth of inflows.
Bitwise's Bitcoin ETF is in a distant second place with $11.1 million worth of inflows.&nbsp;
The Fidelity Wise Origin Bitcoin Fund (FBTC) comes in third place with $4.6 million worth of inflows.
Overall, Bitcoin ETFs saw a rather decent $91.3 million worth of inflows on Thursday.&nbsp;&nbsp;&nbsp;&nbsp;
The largest cryptocurrency by market cap is currently changing hands slightly above the $71,000 level.&nbsp;
<h2 id="grayscale-posts-massive-outflows-again">Grayscale posts massive outflows (again)</h2>
After giving the bulls&nbsp;<a href="https://u.today/is-grayscales-nightmare-finally-over-gbtc-posts-record-low-ouflows" rel="noopener noreferrer nofollow">a glimmer of hope</a> that its disastrous outflows would finally come to an end on Wednesday, Grayscale is seeing massive outflows yet again.&nbsp;
On Thursday, Grayscale bled roughly $125 million worth of Bitcoin. For comparison, it recorded $17.5 million worth of outflows the day before. Still, the most recent figure is much smaller compared to the $303 million that Grayscale's GBTC lost on Monday.&nbsp;
The cryptocurrency community is, of course, waiting with bated breath to see Grayscale's streak of outflows finally coming to an end.&nbsp;
As predicted by Grayscale CEO Mike Sonnenshein, his firm's flagship fund was on the cusp of achieving an "equilibrium." The Grayscale boss attributed most of the selling to bankruptcy proceedings.&nbsp;
Even though Bitcoin ETFs might not be the driving force behind Bitcoin's price moves, many have blamed Grayscale outflows for fueling bearish sentiment. Moreover, algorithmic trading protocols tend to react to daily ETF flows, and this&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-04-03/bitcoin-btc-algos-tracking-etf-flows-cited-for-slump-in-asia?embedded-checkout=true" rel="noopener noreferrer nofollow">tends to affect</a> Bitcoin's price performance.&nbsp;

BlackRock's Bitcoin ETF Records $192 Million Worth of Inflows

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