Advertisement
AD

Main navigation

BlackRock’s Bitcoin ETF in Red for the First Time Since May

Advertisement
Fri, 30/08/2024 - 7:54
BlackRock’s Bitcoin ETF in Red for the First Time Since May
Cover image via www.freepik.com
Read U.TODAY on
Google News

On Thursday, BlackRock's groundbreaking Bitcoin ETF recorded its first negative flows since May.

Advertisement

Overall, Bitcoin ETFs saw $71.8 million worth of outflows yesterday. 

The iShares Bitcoin Trust ETF recorded $13.51 worth of outflows on Thursday, according to recent data

Yesterday, Bitcoin managed to briefly reclaim the $60,000 level. However, this recovery was rather short-lived, and the cryptocurrency is currently trading below the aforementioned level. 

Related

Advertisement

Notably, ARK 21Shares Bitcoin ETF (ARKB) was the only Bitcoin ETF in the green on Thursday. This came after this product experienced significant outflows on 

As reported by U.Today, IBIT became the fastest ETF to reach $10 billion worth of assets under management.

In June, BlackRock's Bitcoin ETF surpassed $20 billion worth of AUM.

It is now clear whether is the recent outflow is part of a bigger trend. So far, BlackRock has been absolutely dominating the Bitcoin ETF race, significantly outperforming major competitors such as Boston-based financial giant Fidelity. 

Meanwhile, as reported by U.Today, Bitcoin ETFs are on track to surpass Bitcoin creator Satoshi Nakamoto as the biggest holder of the largest cryptocurrency by Halloween. 

During a recent CNBC interview, BlackRock CEO Larry Fink said that he viewed the flagship cryptocurrency as “digital gold,” adding that it has a role in investor portfolios. Earlier, the BlackRock boss was rather critical of Bitcoin, but he completely changed his stance when the cryptocurrency started gaining more mainstream acceptance. 

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