Bittime - A few days ago, Bitcoin ETF inflow was observed to be stumbling, aka only $10 million from FBTC and ARKB alone.
Usually, Blackrock's inflow is never empty, but what was surprising was the news that Blackrock's inflow was recorded at $0 for the first time yesterday. Is the market saturated?
Blackrock Bitcoin ETF Inflow Chronology $0
The BlackRock iShares Bitcoin Trust (IBIT) experienced a day of zero new investments , with inflows of $0, according to data from farside.co.uk, since the introduction of the Bitcoin ETF in the United States this January.
This is a significant change, considering that previously IBIT had raised nearly $15.5 billion over 71 days.
On April 24, the Fidelity Wise Origin Bitcoin Fund received $5.6 million, while the ARK 21Shares Bitcoin ETF saw inflows of $4.2 million.
Source: Cointelegraph
That same day, the Grayscale Bitcoin Trust ETF saw withdrawals of $130.4 million. This led to a net outflow of $120.6 million across spot Bitcoin ETFs.
In total, the Bitcoin ETF market in the US has accumulated $12.3 billion in Bitcoin since January 11.
Despite these inflows, cumulative outflows from the Grayscale Bitcoin Trust, which exceed $17 billion, have had a significant impact on total growth.
Check Today's Crypto Market:
Blackrock Bitcoin ETF Dry Period
Most other Bitcoin ETF participants also experienced periods of lack of inflows. Of the 11 Bitcoin ETFs listed in the United States, 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 other hand, the Grayscale Bitcoin Trust ETF (GBTC) continues to decline. On April 24, GBTC recorded an outflow of $130.4 million. As a result, Bitcoin ETFs as a whole generated net outflows of $120.6 million on the day.
While the lack of inflows is new for IBIT, it is common among other ETF participants.
For example, the Fidelity Wise Origin Bitcoin Fund (FBTC) recorded no inflows for three days in the last two weeks.
In total, the Bitcoin ETF market in the US has raised a net $12.3 billion in Bitcoin since January 11.
However, outflows from GBTC have offset some of the inflows recorded by nine other Bitcoin ETFs. On January 11, outflows from GBTC exceeded $17 billion.
Also Read: Runes Dominates Bitcoin Transactions Since Launch
ETH Ether Review
Amid the regulatory landscape, several market players have applied to launch Ether ETFs.
Several Bitcoin ETF market players are also proposing Ether (ETH) related products. However, the Securities and Exchange Commission (SEC) recently postponed a decision on the approval of some of them.
“The Commission is of the opinion that more time is needed to consider the proposed changes to the regulations as amended by Amendment No. 1,” the agency's April 23 notice said.
Also Read How to Buy Crypto:
The SEC's decision regarding the possible conversion of the Grayscale Ethereum Trust (ETHE) into an Ethereum spot product traded on the NYSE Arca exchange has been extended by 60 days to June 23.
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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.
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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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