Advertisement
AD

Main navigation

Advertisement

BlackRock Bitcoin ETF Scores 0 Flow in 2 Days, What's Happening?

Advertisement
Thu, 28/11/2024 - 15:53
BlackRock Bitcoin ETF Scores 0 Flow in 2 Days, What's Happening?
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

BlackRock’s Bitcoin exchange-traded fund (ETF) has recorded zero inflows for the past two days. Institutional investors have lost their appetite for Bitcoin exposure despite the ongoing bull market in the broader cryptocurrency space.

Advertisement

Institutional caution amid market volatility

Data from Farside Investors reveals that BlackRock (IBIT) last recorded an inflow on Nov. 25. Since then, the ETF giant has not registered interest from institutional players. This development has shocked many, given that BlackRock’s performance has often supported the ETF market in staying in the green zone.

Related

Market trend observers have attributed the decreased interest to market volatility amid the ongoing bull run. Institutional investors might have adopted a cautious approach because Bitcoin’s price fluctuations have left them guessing.

Besides BlackRock, other players on the ETF market have remained strong. Only Bitwise’s BITB and Grayscale’s BTC registered two consecutive days of inflows. Bitwise had $6.5 million and $48 million inflows on Nov. 26 and 27, respectively, while Grayscale recorded $4.8 million and $12 million.

Interestingly, despite positive inflows from the duo, it proved insufficient to keep the Bitcoin ETF market in the green on Nov. 26. The market suffered a net outflow of $122.8 million.

Surprising shift for BlackRock

BlackRock, known for large inflows, could have helped prevent a negative flow if not for the market's existing caution. BlackRock’s Bitcoin ETF performance recently hit a significant milestone compared to other products on the ETF market. IBIT, within 211 days, surpassed $40 billion in total assets.

Related

Earlier in November, IBIT had shocked the ETF market when its trading volume recorded $1 billion in just 20 minutes. These performances have been impacted by the current market volatility and caution adopted by investors.

Analysts say this caution might persist until a significant shift occurs in the broader cryptocurrency space. As of this writing, Bitcoin is trading for $95,269.74, a 0.7% increase in the last 24 hours. BTC had reached a high of $97,357 in previous trading.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD