Outflow from spot Bitcoin ETFs continued for the fourth day in a row

On April 29, the net outflow from spot Bitcoin ETFs amounted to $51.5 million. The negative trend was observed for the fourth day in a row.

According to SoSoValue, the total net outflow of Bitcoin spot ETF yesterday, April 29, was $51.5316 million. GrayscaleETF GBTC had a single-day net outflow of $24.6607 million. ARKB had a single-day net outflow of $31.34 million, surpassing GBTC. The BlackRock ETF IBIT has had… pic.twitter.com/RAgU7Al9m3

— Wu Blockchain (@WuBlockchain) April 30, 2024

Since the approval of the products on January 11, investors have invested a total of $11.94 billion in these instruments. During April, multidirectional dynamics of flows are observed.

BlackRock's IBIT has recorded no inflows or outflows over the past four trading days.

On April 29, the net outflow from GBTC from Grayscale slowed to $24.66 million, while from ARKB Ark Invest and 21Shares it increased to $31.34 million.

Let us remind you that on April 30, trading in six spot ETFs based on Bitcoin and Ethereum officially began on the Hong Kong Stock Exchange.

Bloomberg analyst Rebecca Sin predicts that the inflow of funds into this product category could reach $1 billion within two years.