Bitcoin ETF Outflows Slow To $19.5M, Hong Kong Targeting April For Bitcoin ETF Launch
Portfolio Pulse from Murtuza Merchant
Bitcoin ETF outflows decreased to $19.48 million, with Grayscale's GBTC experiencing a $154 million outflow and BlackRock's IBIT seeing a $128 million inflow. Hong Kong is preparing to launch Bitcoin spot ETFs, with an announcement expected on April 15. Meanwhile, VanEck expressed concerns over the uncertain approval timeline for a US-based Ethereum ETF, highlighting the lack of response from the SEC.
April 10, 2024 | 3:22 pm
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POSITIVE IMPACT
BlackRock's iShares Bitcoin Trust recorded a net inflow of $128 million.
The significant net inflow into IBIT suggests positive investor sentiment and confidence in BlackRock's Bitcoin ETF, potentially leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Grayscale's Bitcoin Investment Trust experienced a significant outflow of $154 million.
The substantial outflow from GBTC indicates a negative sentiment among investors towards this particular Bitcoin investment vehicle, likely impacting its short-term price negatively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90