BlackRock’s Bitcoin ETF daily inflow hits $0 for the first time

This is a developing story, and further information will be added as it becomes available.

The BlackRock iShares Bitcoin Trust (IBIT) experienced no new investments for the first time since the launch of Bitcoin ETFs in the US back in January.

Since its January 11th debut, IBIT has continued to draw in investments totaling millions of dollars every day. In just over two months, it had amassed an impressive $15.5 billion. However, the uninterrupted streak of daily investments came to a halt for BlackRock on April 24th, with no new funds added that day.

BlackRock’s Bitcoin ETF daily inflow hits $0 for the first time

Among the ten US-registered Bitcoin ETFs, Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) were the only ones that experienced inflows during this period. The inflows amounted to $5.6 million for FBTC and $4.2 million for ARKB.

Furthermore, the Grayscale Bitcoin Trust ETF (GBTC), which is one of the early Bitcoin Exchange-Traded Funds, experienced significant investments leaving on April 24th, amounting to $130.4 million. Consequently, the entire Bitcoin ETF market witnessed a collective departure of approximately $120.6 million in investments.

IBIT has experienced a unique occurrence in which they have no new inflows for the first time. However, this isolated incident shouldn’t be interpreted as a cause for concern. It’s common for other players to report zero inflows occasionally due to factors like market conditions and investor attitudes.

The US market for Bitcoin Exchange-Traded Funds (ETFs) has amassed a total of over $12.3 billion. Yet, the flows from Grayscale Bitcoin Trust (GBTC) go against this trend, with over $17 billion in outflows reported as of January 11th.

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2024-04-25 08:18