On Tuesday, April 16, there were withdrawals of $58 million from Bitcoin ETFs tracked by Farside Investors. This marks the third straight day of outflows, suggesting a decrease in market activity for Bitcoin ETFs.
In spite of the ongoing decrease, there are indications of progress. The Grayscale Bitcoin ETF GBTC recorded inflows of $79.4 million on April 16, bringing the total outflows to $16.46 billion. Moreover, ARK Invest’s Bitcoin ETF ARKB experienced withdrawals amounting to $13 million.
In recent times, the number of Bitcoins leaving Grayscale Bitcoin Trust (GBTC) has decreased, and the same trend is seen with investments in spot Bitcoin ETFs. On a notable day, BlackRock’s iShares Bitcoin Investment Trust (IBIT) recorded an impressive net inflow of $25.78 million, bringing its total inflows to over $15.3 billion.
According to Bloomberg ETF analyst James Seyffart, it’s normal for ETFs, including Bitcoin-focused ones, to experience days with no new investments. This phenomenon should not be interpreted as a negative sign.
In the world of ETFs, shares are generated or deleted in groups (creation units) as a response to differences in supply and demand, and trades will only be executed when the associated expenses are more advantageous than those of conventional trading methods.
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2024-04-17 10:28