Despite the record-breaking continuous inflow of funds into the iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF issued by BlackRock, coming to an end on Wednesday, Bloomberg analysts still highly praise the fund’s inflow volume since the beginning of the year, ranking it second among all registered funds in the United States.
(Previous summary:
BlackRock’s Bitcoin spot ETF “IBIT” has seen 70 consecutive days of net fund inflow, entering the top ten historical list)
(Background:
Has the Bitcoin spot ETF frenzy subsided? Net inflow is no longer the norm and occasionally turns negative. How do Bloomberg analysts view this?)
Table of Contents:
BlackRock’s IBIT ends 71 consecutive days of net fund inflow
IBIT ranks second in fund inflow volume among all registered funds in the United States this year
Bloomberg: Decreased demand for Bitcoin spot ETFs
Bitcoin falls below $63,000
The iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF issued by BlackRock, the world’s largest asset management company, achieved a record-breaking 70 consecutive days of net fund inflow on April 22, successfully entering the top ten historical list for the duration of continuous fund inflow into ETFs.
However, according to data released by Farside Investors, this continuous record was ultimately broken on the 24th, with the highest record being 71 consecutive days of net fund inflow. On that day, out of the 10 spot ETFs excluding Grayscale’s GBTC, as many as 7 followed in the footsteps of IBIT, with only Fidelity’s FBTC and ARK/21Shares’ Bitcoin ARKB seeing net inflows of $5.6 million and $4.2 million respectively, while GBTC experienced an outflow of over $130 million, resulting in a net outflow of over $120 million for the overall spot ETFs, setting a new outflow record since April 17.
However, despite the rare absence of fund inflow into IBIT for two consecutive days on Wednesday and Thursday, Bloomberg’s senior ETF analyst Eric Balchunas displayed a chart on the 25th, indicating that IBIT has still accumulated over $15 billion in funds.
At the same time, he also praised the remarkable performance of the funds attracted by IBIT, ranking it second among all registered funds in the United States.
Further reading:
Has the Bitcoin spot ETF frenzy subsided? Net inflow is no longer the norm and occasionally turns negative. How do Bloomberg analysts view this?
It is worth noting that, according to a Bloomberg report yesterday, the overall Bitcoin spot ETFs in the United States experienced a net outflow of $218 million on the 25th, which is one of the most severe daily fund outflows since the listing of spot ETFs. Among them, Fidelity’s FBTC experienced an outflow of over $23 million, marking the first net outflow since its listing.
Due to the recent stubborn performance of inflation data, which weakens hopes for interest rate cuts by the Federal Reserve, and the significant rise in U.S. Treasury bond yields, investors’ preference for higher-risk and higher-volatility assets such as cryptocurrencies seems to have decreased.
Source: Bloomberg
The significant slowdown in the inflow of funds into Bitcoin ETFs this month has also weakened the momentum of the Bitcoin bull market. BTC briefly fell to $62,391 this morning and is currently trading at $62,895, marking a 2.7% decrease in the past 24 hours and a 9.5% decline in the past 30 days.
Source: Trading View
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