Positive Inflows for Bitcoin Spot ETFs Post Halving
After the recent Bitcoin halving event, there has been a noticeable shift in the trend for inflows of Bitcoin spot ETFs, indicating a positive change in the market sentiment towards BTC.
- The latest data from Farside revealed that there were inflows equivalent to $62.2 million in Bitcoin ETFs, a figure higher than the previously recorded inflows.
- Prior to the halving, there were five consecutive days of outflows in the Bitcoin spot ETF sector, with the highest outflow observed on April 17th.
Reversal of Trends: BlackRock’s Steady Growth vs. Grayscale’s Struggle
While Grayscale’s Bitcoin Trust (GBTC) continues to face outflows, BlackRock’s iShare Bitcoin Trust (IBIT) has seen net inflows for 70 consecutive days now, with a recent inflow of $19.7 million.
- IBIT has now entered the top 10 of exchange-traded funds with the highest daily inflow streak, reflecting its consistency in attracting investments.
- BlackRock reported adding over $600 million in assets under management on Monday, bringing their total AUM to $18.16 billion.
Retail Investors Driving Capital Inflows, Institutional Entry Awaited
According to VanEck’s CEO, Jan van Eck, retail investors have played a significant role in driving capital inflows in Bitcoin spot ETFs, with institutional investors yet to enter the market.
- Eck remains optimistic about the potential growth of this market niche, anticipating possible big news in the coming months.
- He believes that Bitcoin ETFs could soon attract substantial institutional investments from banks and traditional companies.
Hot Take: Institutional Investments Await Bitcoin ETFs
During this period of Bitcoin halving, all eyes are on the flows and prices related to it. In the case of Bitcoin spot ETFs, it seems that the five consecutive days of outflows have ended, with the return of positive inflows. The latest data from yesterday shows inflows equivalent to $62.2 million.
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