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Spot Bitcoin ETFs Inflow Surges Amidst Successful Halving Event

Spot Bitcoin ETFs Inflow Surges Amidst Successful Halving Event

  • Spot Bitcoin ETFs saw a net inflow of $59.7 million as per Bloomberg on April 20.
  • Prior to halving, the price of BTC recovered, which coincided with the favorable influx.

After suffering outflows earlier in the week, spot Bitcoin exchange-traded funds (ETFs) in the U.S saw a rebound on Friday with inflows of about $60 million. As investors rejoice over Bitcoin’s fourth successful halving, BlackRock (IBIT) and Fidelity (FBTC) saw increased inflows.

Bloomberg and Farside Investors reported on April 20 that spot Bitcoin ETFs saw a net inflow of $59.7 million. Buying activity in the eleven spot Bitcoin ETFs that are listed had a comeback on Friday. Prior to Bitcoin’s halving, the price of BTC recovered, which coincided with the favorable influx.

Investors Optimistic 

A far larger amount of money flowed into the Fidelity Bitcoin ETF (FBTC) than into the iShares Bitcoin ETF (IBIT) run by BlackRock. An increase over the previous three days’ meager influx, BlackRock saw a $29.3 million inflow. Bitcoin holdings increased by more than 17.55% and BlackRock’s net inflow surpassed $15.42B after the most recent influx.

Inflows of $54.8 million were reported by Fidelity Bitcoin ETF (FBTC), $12.5 million by Ark 21Shares Bitcoin ETF (ARKB), and $4.9 million by Bitwise Bitcoin ETF (BITB). On Friday, Grayscale GBTC’s outflows were even slower. The amount of money leaving GBTC has dropped from $90 million the day before to $45.8 million.

This brings the total amount of money leaving the Grayscale BTC ETF to $16.70 billion. The market is still anticipating strong inflows, despite Grayscale CEO Michael Sonnenshein’s estimation that outflows in the GBTC ETF have peaked and a slowdown is expected.

Despite modest trading volumes in spot and futures, latest data suggests a general optimistic mood. This is mainly due to worries over the Israel-Iran tensions.

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