BlackRock’s Bitcoin ETF Sees $73M in Inflows as Other Funds Remain Stagnant
BlackRock’s Bitcoin exchange-traded fund (ETF) stands out as the sole spot Bitcoin fund in the United States to experience inflows in the first day of the week, while other ETFs have reported either zero inflows or even outflows.
According to data from Farside Investors , the iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, although this figure decreased from the $111.1 million seen the previous day.
In contrast, the remaining eight ETFs, excluding Grayscale’s, reported no inflows during this period.
Despite the inflows into IBIT, it was unable to surpass the outflows from the Grayscale Bitcoin Trust (GBTC), which experienced $110.1 million in outflows on April 15, slowing down from the $166.2 million outflows on April 14.
Across April 12 and 15, all ten spot Bitcoin ETFs collectively witnessed net outflows, amounting to $55.1 million and $36.7 million, respectively.
These recent outflows from U.S. Bitcoin ETFs coincide with a volatile period for Bitcoin, which has seen an 11.6% decline over the week, trading at around $63,410.
According to SoSoValue, yesterday's total net outflows of Bitcoin spot ETFs amounted to $36.67 million. The Grayscale ETF GBTC had a net outflow of $110 million in a single day, with GBTC's historical net outflow now standing at $16.38 billion. The Bitcoin spot ETF with the… pic.twitter.com/92c3lbmn7W
— Wu Blockchain (@WuBlockchain) April 16, 2024
Furthermore, global Bitcoin investment products faced outflows of $110 million in the week ending April 12, indicating investor hesitancy, according to James Butterfill, the head of research at CoinShares.
Butterfill noted that all combined crypto investment products experienced net outflows of $126 million last
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