BlackRock Spot Bitcoin ETF Grinds To A Halt, Records Longest Stretch Without Inflows
Summary
BlackRock's iShares Bitcoin Trust (IBIT) experienced zero inflows for three days, breaking a 71-day streak. Other Bitcoin ETFs like Grayscale, Fidelity, and Bitwise saw outflows. This coincided with a 6.29% drop in Bitcoin's price over a week. The halt in IBIT's inflows has raised concerns about waning interest in Bitcoin ETFs, which were previously seen as driving Bitcoin's price to new highs. Bloomberg analyst James Seyffart noted that periods of zero flows are common for ETFs, with 2,903 out of 3,500 ETFs in the US experiencing similar patterns.
