Key Points:
Read more: Best Bitcoin ETFs To Buy In 2024
Previously, following a streak of success, BlackRock Bitcoin ETF faced a setback as it experienced zero net flows on Wednesday, marking the end of a 71-day streak of consistent inflows since its launch on January 11. Data from HODL15Capital indicates a gloomy day for Bitcoin ETFs overall, with outflows totaling $197 million.
BlackRock Bitcoin ETF mirrored this trend with zero flows reported, as noted by HODL15Capital, further reflecting a shift in investor sentiment towards cryptocurrency ETFs. Despite a strong showing earlier in the month, BlackRock Bitcoin ETF fell short of reaching the top 5 of the all-time ETF inflow streak chart, according to data shared by Bloomberg’s Eric Balchunas.
April has seen IBIT amass a net inflow of $1.5 billion, yet the broader market sentiment suggests signs of crypto-market fatigue following the ETF-induced mania that drove Bitcoin to a record high of nearly $74,000 in March. The much-anticipated halving event on April 20 failed to deliver an immediate boost, contributing to Bitcoin’s subsequent decline of 15%.
Additionally, Fidelity’s FBTC recorded its first-ever outflow of $23 million, further highlighting the mixed performance of cryptocurrency ETFs amid shifting market dynamics.
Despite these challenges, the emergence of ETFs has significantly impacted the crypto market, with approximately $54 billion invested across various vehicles, attracting a diverse range of investors. Hong Kong is set to host its inaugural listings of Bitcoin and Ether ETFs, signaling growing global interest and potential expansion of crypto investment opportunities in new markets.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
London, United Kingdom, 21st November 2024, Chainwire
The move will see developers utilize USDC on Aptos in creating dApps on a wide…
Abu Dhabi, UAE, 21st November 2024, Chainwire
Senator Cynthia Lummis outlined the Strategic Bitcoin Reserve, which will sell part of the Fed's…
As the cryptocurrency market expands and matures, a select few projects stand out for their…
SEC evaluates Solana Spot ETF applications from VanEck, 21Shares, and Canary Funds, with Bitwise preparing…
This website uses cookies.