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Bitcoin ETFs Experience Outflows
Data from Farside reveals that Bitcoin (BTC) Exchange-Traded Funds (ETFs) saw an outflow of $36.7 million on April 15. In particular, Grayscale GBTC witnessed an outflow of $110.1 million, contributing to its total net outflow amounting to $16,382.2 billion. Conversely, BlackRock IBIT attracted $73.4 million in inflows, increasing its net inflow to $15,329.0 billion. Fidelity, on the other hand, recorded two consecutive days of zero net flows following a streak of inflows.
Consistent Inflows Across All ETFs
Despite the recent outflows from Bitcoin ETFs, the total net inflows across all ETFs remained strong, totaling $12,494.0 billion, as per Farside data. A similar pattern was observed on April 12, reflecting the trends of April 15. Once again, IBIT emerged as the only ETF with inflows, recording $111.1 million, while GBTC saw outflows of $166.2 million, resulting in a net outflow of $55.1 million for the day.
Slowdown in Inflows After Three-month Run
The inflows into Bitcoin ETFs have slowed down after a successful three-month period, with IBIT being the only ETF sustaining inflows over the past two trading days. Despite Bitcoin’s price drop of approximately 15% from its peak, the lack of significant outflows from other ETFs indicates that investors are taking a long-term approach.
Comparison of Holdings
Based on data from Heyapollo, GBTC currently holds 309,928 BTC, while IBIT holds 272,147 BTC, showing a variance of 37,781 BTC between them.
The continuous inflows into BlackRock IBIT have helped narrow the gap between IBIT and Grayscale GBTC, with just 37,781 BTC separating the two entities.
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