TL;DR
- The iShares Bitcoin Trust (IBIT) from BlackRock has been the only fund with inflows since Friday, with flows of $184.5 million in two days.
- The other Bitcoin ETFs in the United States have had zero or negative flows during the same period.
- Despite the inflows into IBIT, the Grayscale Bitcoin Trust (GBTC) has experienced significant fund outflows.
The iShares Bitcoin Trust (IBIT) has stood out in the Bitcoin fund market in the United States by registering money inflows totaling $184.5 million in just two days, being the only fund with positive flows since Friday.
This situation contrasts with the performance of other Bitcoin ETFs in the country, which have seen zero or even negative flows during the same period.
Farside Investors report shows that IBIT recorded net inflows of $73.4 million on April 15, although this figure represented a decrease from $111.1 million the previous day.
On the other hand, the remaining eight ETFs, except the Grayscale Bitcoin Trust (GBTC), did not report positive flows in the last two days.
However, despite the inflows into the BlackRock IBIT, GBTC experienced significant outflows of funds, with $110.1 million in outflows on April 15, although this figure represented a slowdown from $166.2 million the previous day.
The big picture shows that all 10 Bitcoin ETFs in the United States experienced net fund outflows during April 14 and 15, with outflows of $55.1 million and $36.7 million respectively.
This flow of funds into BlackRock occurs in a context of volatility in the price of Bitcoin
Bitcoin (BTC) is currently trading at $63,231.92, reflecting a decrease of 4.44% in the past 24 hours, according to CoinMarketCap.
Despite this recent drop, Bitcoin continues to maintain a strong position in the cryptocurrency market, showcasing its resilience and ongoing investor interest.
Fluctuations like these are common in the crypto space, influenced by various factors such as market sentiment, regulatory news, and macroeconomic trends.
Investors and traders closely monitor these price movements to make informed decisions in this dynamic market environment.
The previous week, global Bitcoin investment products saw outflows of $110 million, which James Butterfill, head of research at CoinShares, said reflects “hesitation among investors.”
Butterfill also reported that all cryptocurrency investment products combined experienced net outflows of $126 million last week.
Bitcoin’s scheduled April 20 halving event, where its issuance is halved, is also driving price volatility as traders assess its impact on Bitcoin’s price action.
This context of fund flows, price volatility, and upcoming events highlights the complexity of the cryptocurrency market and the decisions facing investors in this space.
