US Bitcoin ETFs Bounce Back With $569.4M in Net Inflows After Initial Dip
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.
Related Post
Article
Genesis Sells Grayscale Shares, Buys $2.17 Billion in Bitcoin for Customer Reimbursement
Following Genesis Global Capital’s receipt of authorization to divest its Grayscale fund holdings,...
2024-04-07 1:27AM
3 Min Read
Article
Bitfarms to Invest $240M in Equipment Upgrade as Halving Nears
Bitfarms Ltd. plans to invest $240 million in upgrading mining equipment ahead of the 2024 Bitcoin h...
2024-04-07 2:09AM
1 Min Read
Let's talk about your investment goals
- Call on: +18009062956
- Time: 9am to 5pm (Sunday close)
- Email: info@horizoncapitalltd.com