US Bitcoin ETFs Bounce Back With $569.4M in Net Inflows After Initial Dip

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US Bitcoin ETFs Bounce Back With $569.4M in Net Inflows After Initial Dip

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                  Spot bitcoin exchange-traded funds (ETFs) concluded the week on an upbeat note, securing $203 million in positive inflows on Friday, as per the latest data. Despite an initial setback of $84.7 million in net outflows on April 1, the ETFs have since rebounded, gathering $569.4 million in net inflows.
Bitcoin ETFs Overcome Early April Setback

Following a decline on April 1, U.S. spot bitcoin ETFs experienced a streak of four days of net inflows. The influx began modestly with $39.5 million on April 2, escalated to $113.5 million the next day, and soared to $213.4 million on April 3. The week’s culmination saw Friday pulling in an impressive $203 million, as reported by coinglass.com figures.

Despite overall market positivity, Grayscale‘s GBTC encountered the day’s largest outflow among the ETFs. Trading volume for the ETFs on Friday summed up to approximately $2.37 billion, marking a 31.5% decrease from Thursday’s $3.46 billion. Nonetheless, Friday’s inflows were only marginally less, by 4.87%, compared to Thursday’s.

Post GBTC’s outflow, data from Saturday reveals the fund holds 325,686.78 BTC. Meanwhile, Blackrock’s IBIT boasts 259,381.18 BTC, while it also benefited from Friday’s inflows. Similarly, FBTC enjoyed inflows on Friday, with the Fidelity-managed fund now safeguarding approximately 149,339 BTC.                

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