The BlackRock Bitcoin ETF reported zero inflows for the first time since its launch, marking a significant halt in new investments. This development could indicate waning investor interest or broader market caution as cryptocurrency markets face volatility and regulatory uncertainties.
BlackRock’s iShares Bitcoin Trust (IBIT), a popular Bitcoin exchange-traded fund (ETF), witnessed its first day of zero inflows on April 24th, according to data from Farside. This marks a significant shift, as the fund had enjoyed a remarkable streak of daily inflows since its launch in January.
Previously, IBIT had consistently attracted millions of dollars in investments daily, accumulating nearly $15.5 billion in just 71 days. This impressive inflow streak ended on April 24th when the fund recorded no new investments.
Additionally, out of the 11 U.S.-registered Bitcoin ETFs, only Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) bucked the trend by bringing in new investments. They recorded inflows of $5.6 million and $4.2 million, respectively.
It’s important to note that while this is a first for IBIT, other Bitcoin ETFs also experienced a decline in inflows on the same day. For instance, Fidelity’s FBTC hasn’t seen any new investments for three days in the past two weeks.
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