First Time In 71 Days: BlackRock’s Bitcoin ETF ‘IBIT’ Registers Zero Inflows
Summary
BlackRock's Bitcoin ETF, IBIT, saw a 71-day streak of inflows end with zero inflows on Wednesday, signaling a potential turning point. Fidelity and Ark Invest recorded inflows, while Grayscale experienced significant outflows. Bitcoin's price declined by 4.2% to $62,990. The Bitcoin funding rate turned negative for the first time since October 2023, indicating reduced demand. Open interest in CME Group's Bitcoin futures market has decreased by 18%. The market is now focused on the debut of spot Bitcoin ETFs in Hong Kong.
