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Cryptocurrency News Articles
Spot Bitcoin ETFs See Resurgent Inflows, BlackRock's IBIT Extends Impressive Streak
Apr 24, 2024 at 12:06 am
On Monday, US spot bitcoin ETFs reported net inflows exceeding $62 million, following the halving of bitcoin block rewards. The Constancy Smart Origin Bitcoin Fund contributed significantly with $34.83 million in inflows, while the ARK 21Shares Bitcoin ETF and The iShares Bitcoin Trust also saw substantial inflows of $22.5 million and $19.65 million, respectively.
Spot Bitcoin ETFs Resume Inflows After Halving, BlackRock's IBIT Extends Impressive Streak
Following a five-day stretch of consecutive net outflows, spot bitcoin exchange-traded funds (ETFs) in the United States experienced a resurgence in inflows on Monday, signaling renewed investor interest in the cryptocurrency.
Data from SoSoValue reveals a total net inflow of over $62 million for spot bitcoin ETFs on Monday. The Constancy Smart Origin Bitcoin Fund led the charge, securing the largest single-day net inflow of $34.83 million. The ARK 21Shares Bitcoin ETF and The iShares Bitcoin Trust followed suit, attracting net inflows of $22.5 million and $19.65 million, respectively.
Despite the overall positive sentiment, the Grayscale Bitcoin Trust, which often dominates the ETF landscape, witnessed a significant net outflow of almost $35 million, overshadowing the inflows of other funds.
Since their inception, U.S.-traded spot bitcoin ETFs have collectively amassed a cumulative net inflow of $12.38 billion. Notably, cumulative spot bitcoin ETF volumes surpassed $226 billion last week, according to data from The Block.
In related news, BlackRock's iShares Blockchain and Tech ETF (IBIT) extended its remarkable streak of daily inflows to 70 days on Monday, placing it among the top 10 ETFs with the longest such sequences.
The Block's data indicates that IBIT's market share among spot bitcoin ETFs reached nearly 54% last week.
The price of bitcoin, the underlying asset for spot bitcoin ETFs, currently hovers around $66,200, as per The Block's Bitcoin Price Page.
Disclaimer:
The Block is an independent media outlet providing news, research, and data on the cryptocurrency industry. As of November 2023, Foresight Ventures holds a majority stake in The Block. Foresight Ventures invests in various companies within the crypto ecosystem, including Bitget, an anchor LP for Foresight Ventures. Despite these financial relationships, The Block maintains its independence in delivering objective, insightful, and timely coverage of the crypto industry. The information provided herein is for informational purposes only.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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