BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) has been the only United States-based spot Bitcoin fund to see inflows over the past two days, with all other ETFs posting zero inflows or lower.
The iShares Bitcoin Trust (IBIT) posted net inflows of $73.4 million on April 15, down from the $111.1 million the day prior. The eight other ETFs — bar Grayscale’s — posted $0 flows over the past two days, per Farside Investors data.
However, IBIT’s inflows weren’t enough to outpace outflows from the Grayscale Bitcoin Trust (GBTC). It saw $110.1 million in outflows on April 15, slowing from April 14’s $166.2 million.
All 10 spot Bitcoin ETFs saw net outflows across April 14 and 15 — $55.1 million and $36.7 million, respectively.
The recent outflows for U.S. Bitcoin ETFs follow a rollercoaster weekend for Bitcoin, which is down 11.6% on the week to $63,410, per Cointelegraph Markets Pro.
Related: Hong Kong’s Ether, Bitcoin ETFs will be ‘lucky to get $500m’
Meanwhile, global Bitcoin investment products saw outflows of $110 million for the week ending April 12, which CoinShares’ research head James Butterfill said highlights the “hesitancy amongst investors.”
Butterfill reported all combined crypto investment products saw net outflows of $126 million last week, and week-on-week volumes perked from $17 billion to $21 billion.
Iran’s April 13 attack on Israel sent Bitcoin into freefall, hitting a three-week low of $61,918.
The cryptocurrency’s April 20 slated halving — where its issuance is cut in half — is also causing price volatility as traders eye how it will affect Bitcoin’s price action.
X Hall of Flame: Expect ‘records broken’ by Bitcoin ETF: Brett Harrison (ex-FTX US)
