Bittime - Bitcoin investorsseem to be having second thoughts regardingtheir investments in Exchange Traded Funds (ETFs) based on the Bitcoin crypto asset. Data from SoSoValue shows that on Wednesday, April 18 2024, there was a net outflow of US$4.3876 million from allexisting Bitcoin spot ETFs. This outflow continued for 5 consecutive days.
Grayscale ETF GBTC: Biggest Outflow
Grayscale Bitcoin Trust (GBTC), one of the leading Bitcoin spot ETFs, recorded its largest net outflow on Wednesday. Funds leaving GBTC reached US$89.9918 million in one day. With this, GBTC's total historical net outflow currently stands at US$16.685 billion.
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Fidelity and BlackRock Record Inflows
Although the majority of Bitcoin spot ETFs experienced outflows, there were two ETFs that actually experienced net inflows. Fidelity Bitcoin ETF (FBTC) was the leader, recording daily net inflows of US$37.3959 million. FBTC's total historical net inflow was recorded as having reached US$8.087 billion.
Followed by the BlackRock iShares Bitcoin ETF (IBIT) with daily net inflows of US$18.7627 million. Historically, IBIT has recorded total net inflows of US$15.392 billion.
Current state of the Bitcoin Spot ETF
Until this news was written, the total net asset value of all Bitcoin spot ETFs reached US$53.063 billion. The ratio of ETF net assets to overall Bitcoin market capitalization (ETF net asset ratio) is 4.25%. Meanwhile, the Bitcoin spot ETF's total historical cumulative net inflow was recorded at US$12.262 billion.
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Shifting Investor Sentiment
The 5th consecutive day of net outflows from the Bitcoin spot ETF signals a shift in investor sentiment. Although some ETFs such as FBTC and IBIT still recorded inflows, these were not enough to cover the overall outflows. Bitcoin price movements and general crypto market sentiment will certainly be a determining factor in the direction of the Bitcoin spot ETF movement in the future.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Bitcoin Spot ETFs Record Record Inflows
Buy Bitcoin vs Spot Bitcoin ETF, Which is More Profitable?
Why Did Bitcoin Prices Drop After Bitcoin Spot ETF Was Approved?
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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