The US Spot Bitcoin ETF market experienced massive outflows exceeding $500 million in a single day, triggered by the Federal Reserve’s decision to maintain interest rates. This comes amidst a broader market crash for Bitcoin, with the cryptocurrency witnessing significant price declines over the past month. This unexpected development suggests a potential shift in investor sentiment, while analysts reassure that such inflows and outflows are a normal occurrence in ETFs.
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Bitcoin Price Reacts to Geopolitical News, ETF Flows Remain Steady
Bitcoin’s price experienced a drop due to renewed tensions in the Middle East, with support forming at $64,000. The market sentiment suggests a short-term consolidation, while the US spot Bitcoin exchange-traded funds saw net outflows, primarily from the Grayscale Bitcoin Trust. Additionally, the largest ETF offering from BlackRock saw zero inflows, and spot ETFs are set to begin trading in Hong Kong on April 30, marking a milestone for Bitcoin institutional adoption.
read moreBlackRock’s Bitcoin ETF Inflows Set to Enter Top Ten Streaks
BlackRock’s Bitcoin spot ETF, IBIT, has seen 69 days of continuous inflows, with the potential to break into the top ten ETFs for the longest inflow streak. The ETF has attracted significant investment, bringing in $15.42 billion by Friday, with major financial institutions joining its BTC ecosystem. Despite market expectations, BTC managed to resist the “sell the news” phenomenon after its halving, trading at $66,289 and gaining 1.97% in the past day.
read moreBitcoin ETF Outflows Spike, BlackRock Maintains Consecutive Inflows Amid Questions
Bitcoin ETFs experienced significant outflows on April 17, with the largest outflow of $165.0 million since April 8. Grayscale GBTC saw outflows of $133.1 million, bringing its total net outflows to $16,594.7 billion. Ark ARKB also recorded an outflow of $42.7 million, resulting in total inflows of $2,194.5 billion. Bitwise BITB experienced its first outflow since launch, amounting to $7.3 million, leaving its total inflows at $1,735.7 billion. Despite widespread outflows, BlackRock IBIT has maintained consecutive inflows, albeit at a decreasing rate, with the most recent inflow amounting to $18.1 million, bringing IBIT’s total inflows to $15,372.9 billion. However, the diminishing inflows since April 12 have raised questions about the sustainability of the inflows. In total, Bitcoin ETFs have seen net inflows of $12,271.0 billion, according to Farside.
read moreStagnant Demand for Bitcoin ETFs Amid Market Uncertainty and Selling Pressure
Despite active on-chain accumulation, demand for Bitcoin exchange-traded funds (ETFs) in the United States has stagnated over the past month, with most spot Bitcoin ETFs seeing zero inflows. This decline is attributed to market uncertainty and selling pressure on Bitcoin, potentially leading to further outflows if prices continue to drop. Additionally, the recent approval of spot Bitcoin and Ethereum ETFs by Hong Kong regulators has yet to impact the market.
read moreBitcoin Trust Outflows Hit Record Low Amid Price Rebound and Inflation Data
Outflows from the Grayscale Bitcoin Trust (GBTC) hit a new record low, dropping almost 90% from the previous day, coinciding with a rebound in Bitcoin’s price after new U.S. inflation data triggered volatility. On April 10, GBTC saw outflows of $17.5 million, a significant decrease compared to the $154.9 million outflows recorded on April 9. Bitcoin’s price increased 2.08% over the past 24 hours, currently standing at $70,474, following worries about potential Federal Reserve interest rate cuts. Some are hopeful that this marks the start of a slowdown in GBTC outflows, which have amounted to $16 billion since GBTC was converted to a spot Bitcoin ETF in January.
read moreBitcoin Halving Approaches as On-Chain Indicator Sparks Market Speculation
Bitcoin OGs are preparing to cash in on their gains ahead of the halving, as indicated by the Value Days Destroyed (VDD) Multiple spiking above 4.0. This suggests that the market could be approaching the end of the bull run, with on-chain momentum potentially topping. The surge in VDD multiple levels is attributed to substantial outflows from Grayscale’s Bitcoin Trust (GBTC) following the approval of spot Bitcoin exchange-traded funds (ETF) by the United States Securities and Exchange Commission (SEC).
read moreBitcoin ETF Flows Rebound as Grayscale Outflows Ease, Inflows Surge
Bitcoin ETF flows turned positive as Grayscale’s GBTC saw a slowdown in outflows, with total inflows reaching $113.5 million. Fidelity’s FBTC led with $116.7 million, followed by Blackrock’s IBIT with $42 million, and Bitwise’s BTIB with $23 million. Genesis Global Holdco LLC’s potential sale of 35.9 million GBTC shares, valued at around $2 billion, may have triggered recent selling pressure on GBTC. Despite outflows and complaints, GBTC is unlikely to lower its 1.5% fee, benefiting from bullish market conditions. Bloomberg ETF analyst James Seyffart and Eric Balchunas provided insights on the situation. (Source: Bloomberg, SEC)
read moreBitcoin Price Recovers After Silk Road BTC Sales, Bullish Momentum Builds
Bitcoin price bounced back above $66,000 despite US government selling 2,000 BTC from Silk Road. Traders remain optimistic, emphasizing the insignificance of the sell-off and highlighting strong inflows to US Bitcoin ETFs. Analysts hope for continued buyer momentum and view corrections as healthy for the market cycle.
read moreBitcoin ETF Outflows Ease, Momentum Turning for Price Recovery
Bitcoin’s institutional outflows are receding, with Grayscale Bitcoin Trust (GBTC) losing $170 million on March 22. The United States Spot Bitcoin exchange-traded funds (ETFs) have seen declining inflows, while GBTC outflows hit record highs. Analysts are divided on the future of BTC price action, with some expecting a return to price discovery, while others criticize GBTC as Bitcoin’s “biggest headwind.”
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