BlackRock’s Bitcoin exchange-traded fund (ETF) stands out as the sole United States-based spot Bitcoin fund to experience inflows over the past two days. In contrast, all other ETFs recorded either zero inflows or lower amounts.
The iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, a decrease from the previous day’s $111.1 million. However, this wasn’t sufficient to offset outflows from the Grayscale Bitcoin Trust (GBTC), which experienced $110.1 million in outflows on April 15, although a slowdown from the previous day’s $166.2 million.
Across April 14 and 15, all 10 spot Bitcoin ETFs observed net outflows, totaling $55.1 million and $36.7 million, respectively.
Bitcoin witnessed a tumultuous weekend, currently down 11.6% on the week to $63,410. This decline coincided with global Bitcoin investment products experiencing outflows of $110 million for the week ending April 12, indicating investor hesitancy, according to CoinShares’ research head James Butterfill.
Bitcoin’s price experienced a dip following Iran’s attack on Israel on April 13, dropping to a three-week low of $61,918. Additionally, anticipation surrounding Bitcoin’s upcoming halving on April 20, where its issuance is halved, is contributing to price volatility as traders assess its potential impact on Bitcoin’s price trajectory
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