BlackRock Bitcoin ETF Sees No Inflows For the First Time in 71 Trading Days

2024-4-25 11:47

BlackRock’s iShares Bitcoin Trust (IBIT) has recorded no new inflows for the first time in over two months. This marks a significant pause in its steady growth.

This stagnation comes amid broader fluctuations within the US spot Bitcoin exchange-traded funds (ETFs) market, contrasting sharply with the excitement in overseas markets like Hong Kong.

US Spot Bitcoin ETFs Stall as Hong Kong Innovates

On April 24, the cumulative daily inflow of US Bitcoin ETFs dipped to a negative $120.64 million, according to data from SoSo Value. Notably, IBIT, which previously enjoyed a continuous inflow for 71 trading days, experienced zero inflows on the reporting date.

Despite this, IBIT still maintains the largest cumulative inflow among its peers, amassing an impressive $15.4 billion.

Read more: What Is a Bitcoin ETF?

BlackRock’s iShares Bitcoin Trust (IBIT) Net Inflows. Source: SoSo Value

The other US spot Bitcoin ETFs saw minimal positive movement during the same period. Only Fidelity Wise Origin Bitcoin (FBTC) and ARK 21 Shares Bitcoin ETF (ARKB) recorded inflows of $5.61 million and $4.17 million, respectively.

Meanwhile, Grayscale Bitcoin Trust ETF (GBTC) continues to face challenges. It recorded $130.42 million in daily outflows, bringing its negative cumulative flows to a staggering $16.96 billion.

The lack of inflows into IBIT raises questions about the future appetite for Bitcoin ETFs in the US. Moreover, this coincides with the occurrence of its counterparts in Hong Kong.

Recently, the HashKey Exchange announced its collaboration with Boshi International and HashKey Capital. They aim to launch the Boshi Hashkey Bitcoin Spot ETF and Boshi Hashkey Ethereum Spot ETF through the collaboration.

These funds allow for the physical redemption of assets. Furthermore, it highlights a strategic advantage that could appeal to investors seeking direct exposure to cryptocurrencies without the immediate need to sell.

This innovation in Hong Kong contrasts with the more conservative approaches in the US market. The Hong Kong ETFs are set to begin fundraising. Finally, the Hong Kong Stock Exchange will list them on April 30.

Despite the optimism in Hong Kong, analysts remain cautious about the immediate impact of these new ETFs on the broader market. Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, has pointed out the limitations of the Hong Kong market.

“The underlying ecosystem there is less liquid and efficient, which could affect the performance of these ETFs,” he said.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

However, he remains optimistic about the long-term benefits. Balchunas stated that “other countries adding BTC ETFs is no doubt additive for Bitcoin.”

The post BlackRock Bitcoin ETF Sees No Inflows For the First Time in 71 Trading Days appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95539.07 (-0.07%)
Объем 24H $40.596b
Изменеия 24h: -2.00 %, 7d: -7.22 %
Cегодня L: $95217.68 - H: $97458.26
Капитализация $1892.106b Rank 1
Цена в час новости $ 63823.89 (49.69%)

bitcoin time inflows etf blackrock trading days

Источник: beincrypto.com

bitcoin time → Результатов: 126


Фото:

Bitcoin hits $100k for the first time as bull run continues

Bitcoin reached the milestone on December 5 Over the past 30 days, Bitcoin has increased in value by nearly 50% and 140% in YTD value It comes as President-elect Donald Trump named Paul Atkins as the next US SEC chair Bitcoin has reached a new all-time high, hitting $100,000 for the first time, continuing its […] The post Bitcoin hits $100k for the first time as bull run continues appeared first on CoinJournal.

2024-12-5 10:55


Фото:

Bitcoin sees violent volatility after hitting new ATH second time in a week

Bitcoin hit a new all-time high for the second time this week and once again experienced a violent sell-off that erased its gains and stirred memories of past volatilities in the crypto space. Bitcoin broke its previous record early in the US trading hours on March 8, climbing to an all-time high of $70,136 after […] The post Bitcoin sees violent volatility after hitting new ATH second time in a week appeared first on CryptoSlate.

2024-3-9 20:26


Фото:

Bitcoin’s Crucial Lifeline: Analyst Unveils Support That Could Prevent Crash To $60K

Bitcoin has once again been the center of attention following its recent surge to a new all-time high, only to face a subsequent downturn that tested the resilience of its market value. A few days ago, Bitcoin traded at $69,328 for the first time ever, but It experienced a pullback, dipping to the $59,000 region before regaining its footing and stabilizing above the $66,000 mark.

2024-3-8 08:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

HBO Claims It Has Unmasked Bitcoin Creator Satoshi Nakamoto

HBO announces a documentary aiming to reveal Bitcoin creator Satoshi Nakamoto, stirring major excitement and curiosity in the cryptocurrency world. The post HBO Claims It Has Unmasked Bitcoin Creator Satoshi Nakamoto appeared first on BeInCrypto.

Coinbase CEO Brian Armstrong Counters Bitcoin IOU and cbBTC Controversy

Analysts and experts have dismissed the IOU claims, asserting that ETFs fully own the underlying Bitcoin and that recent price fluctuations are driven by market participants. The post Coinbase CEO Brian Armstrong Counters Bitcoin IOU and cbBTC Controversy appeared first on BeInCrypto.

Bitcoin Mining Halt Triggers 20% Electricity Price Surge in Norwegian City

Experts argue that this rise in energy bills highlights how Bitcoin mining can contribute to lower overall energy costs by distributing fixed grid expenses across a broader user base. The post Bitcoin Mining Halt Triggers 20% Electricity Price Surge in Norwegian City appeared first on BeInCrypto.