BlackRock’s Bitcoin ETF Records First $0 Daily Inflow

The BlackRock iShares Bitcoin Trust (IBIT) experienced its first day without capital inflows since the US launched Bitcoin ETFs in January.

BlackRock iShares Bitcoin Trust (IBIT) has experienced its first day without capital inflows since Bitcoin exchange-traded funds (ETFs) became available in the United States in January.

Since its launch on January 11th, IBIT has consistently attracted investments worth millions of dollars daily, amassing approximately $15.5 billion in just 71 days.

The trend of 71 consecutive days of inflows for BlackRock came to an end on April 24, when the company reported no inflows of any kind. Almost all of the other participants in the Bitcoin ETF also went through a period of inactivity.

Out of the ten Bitcoin ETFs registered in the United States, only two, the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), reported inflows of $5.6 million and $4.2 million, respectively.

Furthermore, the Grayscale Bitcoin Trust ETF (GBTC), which was one of the earliest Bitcoin exchange-traded funds (ETFs), continued to have a negative impact on investors.

As of April 24th, GBTC had reported a total outflow of $130.4. Because of this, the Bitcoin exchange-traded fund (ETF) ecosystem experienced a total outflow of $120.6 million.