BlackRock Bitcoin ETF Records 0$ Inflow for the First Time Since Launch


After scaling through the recent strong wave of buying and selling in the bitcoin Exchange-Traded Funds (ETF) market with daily inflows, BlackRock’s long inflow streak has come to a halt after recording its first day without an Inflow into its bitcoin ETF, iShares Bitcoin Trust (IBIT).

BlackRock ETF Ends a Market Day With 0$ Inflow

While other bitcoin ETFs have seen outflows between their market days, and Grayscale has recorded complete outflows since bitcoin ETF approval, BlackRock has continued to record inflows until now. BlackRock has made it into the world’s ranking of the top 10 ETF inflow streaks of all time with 71 consecutive market days of inflow into its bitcoin ETF.

However, according to Farside, for the first time since spot bitcoin ETF was approved by the U.S Securities and Exchange Commission (SEC) in January, BlackRock closed the market yesterday with no inflow into or outflow from IBIT. 

Notably, on the same day that BlackRock recorded no inflow, only Fidelity’s FBTC and Ark 21Share’s ARKB ended the day on the green side. Grayscale ended the day with an outflow of about $130.4 million, almost twice the previous day’s outflows. The other seven bitcoin ETFs approved in the U.S. ended up like BlackRock with no inflow. The bitcoin ETF market closed the day, recording $120.6 million in outflows. 

Crypto ETF Market Matures

The crypto ETF market continues to grow and become widespread. Many investors continue to invest in bitcoin through ETF as it saves stress and seems safer.

The ETF market has extended to the Asian continent. Hong Kong subsidiaries of many companies have submitted applications and received approval to introduce bitcoin ETFs to their financial markets, and they’re working to launch before the month ends.  

Grayscale and other Bitcoin ETF issuers are also on the way to introducing an Ethereum spot ETF in the United States. However, the SEC has yet to approve their applications. 

“The Commission is extending the period for approving or disapproving the proposed rule change for an additional 60 days,” the SEC said, adding that “It is appropriate to designate a longer period” to review the proposal before deciding on approval or disapproval for ethereum ETF.