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BlackRock's Bitcoin ETF Ends 71-Day Inflow Streak

BlackRock's iShares Bitcoin Trust recorded its first day without inflows since launch, marking a significant shift in the ETF market.

Overview

  • BlackRock's iShares Bitcoin Trust (IBIT) saw no new inflows on April 24, ending a 71-day streak of daily net inflows.
  • The halt in inflows coincides with broader net outflows in the U.S. spot Bitcoin ETF sector, totaling $120 million on the same day.
  • Other Bitcoin ETFs like Fidelity Wise Origin and ARK 21Shares recorded minor inflows, while Grayscale's Bitcoin Trust experienced significant outflows.
  • The overall U.S. Bitcoin ETF market has accumulated over $12 billion in net inflows since January, despite recent outflows.
  • Analysts suggest that the cooling off in ETF inflows could be due to a variety of market and geopolitical factors.