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BlackRock Bitcoin ETF Had No Inflows For 2 Consecutive Days

Key Points:

BlackRock Bitcoin ETF faces zero flows for 2 consecutive days when other ETFs are also gloomy.
Market sentiment shifts as cryptocurrency ETFs reflect fatigue despite $54 billion investments.
Global interest has grown, with Hong Kong set to launch Bitcoin and Ether ETF listings.

The iShares Bitcoin Trust saw zero flows on Thursday, according to HODL15Capital, following a second day of zero cash inflows for the fund.

BlackRock Bitcoin ETF Streaks End as Investor Sentiment Shifts

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.

Global Interest Peaks with Hong Kong’s Debut of Bitcoin and Ether ETFs

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.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.