BlackRock's Spot Bitcoin ETF Sees Zero Inflows, As Net Outflows Tally $130M On Wednesday
Portfolio Pulse from Murtuza Merchant
BlackRock's iShares Bitcoin Trust (IBIT) experienced no net inflows, ending a 71-day streak, while Grayscale's Bitcoin Trust ETF (GBTC) saw a significant outflow of $130 million. Conversely, Fidelity Wise's Origin Bitcoin Fund (FBTC) and the Ark Invest and 21Shares ETF (ARKB) reported inflows. This comes as Hong Kong introduces its first cryptocurrency ETFs, signaling a potential shift in the Asian market.
April 25, 2024 | 11:51 am
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POSITIVE IMPACT
Ark Invest and 21Shares ETF saw an influx of $4.17 million, indicating healthy investor interest.
The inflows into ARKB suggest a positive investor sentiment towards this ETF, potentially leading to an uptick in its short-term price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity Wise's Origin Bitcoin Fund attracted $5.61 million in inflows, leading the market for the day.
Positive inflows indicate robust investor interest and confidence, likely contributing to a favorable short-term price movement.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Grayscale's Bitcoin Trust ETF registered a significant outflow of $130 million, the largest single-day withdrawal.
A substantial outflow like this could reflect a bearish sentiment among investors, likely leading to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
NEGATIVE IMPACT
BlackRock's iShares Bitcoin Trust saw no net inflows, ending a 71-day streak of investments.
The halt in inflows after a prolonged period of investment could signal a temporary loss of investor confidence or interest, potentially impacting its short-term price negatively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90