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.
Read More
Sorry. No data so far.
2024-04-17 10:28