On Thursday, U.S. exchange-traded funds that track Bitcoin prices in real time reported their fifth consecutive day of net outflows. This withdrawal period ties the record for the longest such string of incidents.

Analysts at JPMorgan calculated that these funds faced about $4 million in redemptions that day.

“The total value of shares sold, excluding Grayscale Bitcoin Trust (GBTC) shares, reached $86 million,” analysts wrote in a report.

Meanwhile, inflows into BlackRock's Bitcoin-focused fund, IBIT, remained low, totaling $19 million, unchanged from the previous day. The largest number of shares sold came from Fidelity's Bitcoin fund, FBTC, totaling $38 million. In contrast, Grayscale Bitcoin Trust (GBTC) saw buybacks amounting to -$90 million,” they continued.

Increased outflows from the Bitcoin ETF ahead of the expected Bitcoin halving event, which is forecast to occur later today on Friday, April 19. This event will halve the number of new Bitcoins created each day, from 900 to 450.

"While we do not anticipate a direct impact on ETF trading or the structure of these financial instruments, past Bitcoin halving events have typically resulted in an increase in Bitcoin price," the authors said. JPMorgan analysis commented.

According to analysts, Riot Platforms (NASDAQ:RIOT) and CleanSpark (NASDAQ:CLSK) are companies whose stocks are likely to gain from Bitcoin's post-halving price increase, while Cipher Mining (NASDAQ: CIFR) may not benefit much.

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