Bitcoin ETFs have been success story; however, demand for them decreases
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
Since their launch, the 11 U.S.-based spot Bitcoin ETFs have attracted around $12 billion in total net inflows, propelling the price of Bitcoin to a record high of over $73,000 in March. The initial indication of trouble emerged on April 25 when BlackRock's Bitcoin ETF concluded its 71-day streak of consecutive inflows. During this period, IBIT saw no new inflows, with total outflows amounting to $120 million. Grayscale's GBTC also experienced significant outflows, exceeding $130 million. In contrast, Fidelity's FBTC attracted $5.6 million, and Ark's ARKB drew $4.2 million in inflows.By May 2, every ETF recorded outflows for the first time, totaling $563.
Arkham Intelligence data indicates that Bosera HashKey spot Bitcoin and Ether ETFs have accumulated 964 BTC and ETH, amounting to $71.94 million in assets under management. Similarly, ChinaAMC's spot Bitcoin and Ether ETFs have amassed $123.61 million in combined assets, as reported by Eric Balchunas, a senior ETF analyst at Bloomberg.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Spot ETFs Record Net Inflows, Grayscale Bitcoin Trust Sees OutflowBitcoin spot ETFs recorded a total net inflow of $213 million, while the Grayscale Bitcoin Trust experienced a net outflow of $79.3 million. BlackRock's ETF, IBIT, observed the highest single-day net inflow of approximately $144 million.
Read more »
GBTC outflows overpower spot bitcoin ETF inflowsSpot bitcoin exchange-traded funds in the United States experienced net outflows yesterday after four straight days of inflows.
Read more »
GBTC outflows overpower other spot bitcoin ETF inflows for third straight dayOverall, spot bitcoin ETF volumes have steadied throughout April after a steady decline from their early March peak.
Read more »
XRP Bucks Trend With $1.3 Million Inflows as Bitcoin Outflows ContinueXRP stands out with $1.3 million inflows as digital asset outflows continue
Read more »
Spot Bitcoin ETFs witness 5th consecutive day of outflows as halving imminentSpot Bitcoin ETFs witness 5th consecutive day of outflows as halving imminent
Read more »
Is Bitcoin in Trouble? ETFs Holders Number PlummetBitcoin ETFs are seeing outflows as digital gold loses crucial threshold
Read more »