BlackRock, Fidelity Show Signs of Recovery, GBTC Outflow Drops to $45 Million
Bitcoin ETFs in the US recorded nearly $60 million in inflows on Friday, showing signs of recovery from this week’s negative inflows. Inflows into BlackRock (IBIT) and Fidelity (FBTC) increased further as market participants celebrated the fourth successful Bitcoin halving.
Spot Bitcoin ETFs See $60 Million in Inflows
Total net inflows for spot Bitcoin ETFs were $59.7 million, according to data reported by Bloomberg and Farside Investors on April 20. The 11th listed spot Bitcoin ETF saw a resurgence in buying activity on Friday. The positive entry comes amid the BTC price recovery ahead of the Bitcoin halving.
Inflow into the Fidelity Bitcoin ETF (FBTC) was nearly double that in the US BlackRock’s iShares Bitcoin ETF (IBIT). BlackRock saw inflows of $29.3 million, increasing after sluggish inflows over the last few days. After the latest influx, BlackRock’s net inflow exceeded $15.42 billion and Bitcoin holdings also increased $17.55 billion.
Fidelity Bitcoin ETF (FBTC) recorded inflows of $54.8 million, while Ark 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) witnessed inflows of $12.5 million and $4.9 million, respectively.
Outputs Grayscale GBTC It slowed down further on Friday. Outflow from GBTC fell to $45.8 million from $90 million the day before. However, total outflow from the Grayscale BTC ETF currently stands at $16.70 billion. Grayscale CEO Michael Sonnenshein predicted that outflows in the GBTC ETF have peaked and positive inflows are expected soon, but the market is still waiting for that.
Source: Farside Investors
Read more: Blackrock Bitcoin ETF Will Surpass Grayscale Soon; Only 2 Billion Dollars of Gap Remains
Bitcoin Price Is Consolidating near $64K
BTC price has increased by approximately 0.5% in the last 24 hours and the price is currently trading at $64,092. The 24-hour low and high were $63,036 and $65,481 respectively. However, trading volume decreased by 17% after Bitcoin halving as investors cautiously sought more signals.
Recent analysis points to a generally bullish trend, despite low trading volumes in spot and futures, particularly due to concerns over Israel-Iran tensions. Popular analyst Skew said BTC price “still needs to reclaim between $65.5K and $66K to move very high.”
Coinglass data shows that: Bitcoin futures and options open positions (OI) has decreased slightly in the last 24 hours. Total futures OI fell over 2% to $31.31 billion amid mixed sentiment on crypto exchanges in the past few hours. CME Bitcoin Futures OI is down over 4%, with most of it coming in the last 3 hours.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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