US Bitcoin Spot ETFs See Three Consecutive Days of Inflows Post Halving
US-based Bitcoin Spot ETFs have recorded positive inflows for three consecutive days, contributing to a noticeable market recovery.
US Bitcoin Spot ETFs See Three Consecutive Days of Inflows Post Halving
According to data from SosoValue, US-based Bitcoin Spot ETFs received $31.64 million on April 23, marking three consecutive days of inflows following a streak of five consecutive days of withdrawals leading up to the fourth Bitcoin Halving event.
Market data for Bitcoin Spot ETFs. Source: SosoValue (04/24/2024)
IBIT, managed by BlackRock, led the inflows with $37.92 million, followed by Ark Invest's Bitcoin Spot ETF with $33.28 million, and Bitwise's ETF with $23.23 million on April 23, 2024.
Conversely, Grayscale's GBTC Trust reported outflows of -$66.88 million, bringing the total amount withdrawn from this fund to $16.83 billion.
Daily outflows from Grayscale's GBTC Trust. Source: SosoValue (04/24/2024)
IBIT by BlackRock currently dominates the Bitcoin Spot ETF market with a 51.81% market share and has seen positive inflows for 104 consecutive days.
Market share of Bitcoin Spot ETFs. Source: The Block (04/24/2024)
Daily inflows into BlackRock's Bitcoin ETF. Source: SosoValue (04/24/2024)
Since their listing in January, US Bitcoin Spot ETFs have accumulated $12.42 billion in assets under management, reaching a net asset value of $55.82 billion as of April 23, 2024.
Inflow statistics across all Bitcoin ETFs. Source: SosoValue (04/24/2024)
