% 3.43
BTC Dominance:
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
$ 68.920
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

BlackRock’s Bitcoin ETF Inflow Streak Ends

Blackrock, Etf, Ibit, Bitcoin Etf

As a significant break, BlackRock iShares Bitcoin Trust (IBIT) for the very first time did not have any inflows – since the debut Bitcoin ETFs in the US. In its 71-day lifetime since its inception on January 11, more than $15.5 billion has been poured into IBIT by BlackRock, with new funding emerging almost daily, as per Farside data.

Mixed Trends Among Bitcoin ETF Participants

On the other hand, it was not only BlackRock that experienced this drought. Among the 11 U.S.-registered Bitcoin ETFs, only Fidelity Wise Origin Bitcoin Fund(FBTC) and ARK 21Shares Bitcoin ETF(ARKB) recorded inflows of $5.6 million and $4.2 million, respectively. On the contrary, Grayscale Bitcoin Trust ETF (GBTC) recorded $130.4 million inflow on the 24th of April; yet, the net outflow amounted to $120.6 million for the spot Bitcoin ETFs during the month.

Regulatory Hurdles Delay Ether ETF Approvals

While this scenario is unusual for the IBIT, it is an acknowledgement of a broader trend experienced by other ETF players. Specifically, Fidelity’s FBTC suffered $0 inflows on three days within the last couple of weeks. Nevertheless, this eclipses the $12.3 billion net Bitcoin holdings of the U.S. Bitcoin ETF market since inception. At the same time, the outflows from GBTC have overwhelmed a large part of the inflows originating from the remaining 10 Bitcoin ETFs, with the outflows from GBTC exceeding $17 billion since January 11.

Uncertainty Looms Over Ether ETF Prospects

The eyes of the market are not just on Bitcoin since there are some who are looking at the prospects for Ethereum Exchange-Traded Funds in the US. Nevertheless, the Securities and Exchange Commission have recently postponed responding to several Ethereum ETF proposals. In its April 23 release the Commission mentioned, “Having sufficient time to consider the proposed rule change, as modified by Amendment No. is appropriate, given that it is designated a longer period within which to issue an order approving or disapproving”. 1.As a consequence, the decision to have a spot ETH exchange-traded product through which Grayscale’s ETH Trust can be converted has been delayed by 60 days, and the final date will be on June 23.

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As markets zigzag and regulators blink regulatory change on cryptocurrency ETFs, investors and industry players stay lucid and expect the next move in the rapidly developing market.

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