As spot bitcoin ETF hype subsided along with the cryptocurrency's price, U.S. ETFs saw net outflows worth $343.5 million in April, ending a streak The cash inflow lasted three months.

ETFs have had impressive inflows, attracting demand of $1.5 billion, $6 billion and $4.6 billion in January, February and March, respectively. overall has slowed significantly since peaking at a daily net outflow of $1.05 billion on March 12, bitcoin then fell 18% from its all-time high of $73,836 on the 14th. March to early May.

Capital outflows in April continued to be led by Grayscale's "slightly expensive" fee GBTC fund with $2.5 billion exiting the ETF during the month. Ark Invest's ARKB saw monthly net outflows of $86.3 million, and Valkyrie's BRRR also recorded a small net inflow of $0.3 million in April. The remaining funds recorded net inflows last month, although Fidelity's FBTC and Bitwise's BITB also recorded their first daily outflows in April.

BlackRock's IBIT continues to dominate net inflows into spot bitcoin ETFs, raking in $1.5 billion in April, followed by $556.1 million for Fidelity's FBTC and $125 million for Bitwise's BITB. However, IBIT's 71-day inflow streak – a streak that put it among the top 10 best ETFs in history – ended on April 23, and the fund saw five consecutive days without a Cash flow has been coming in since then.

Ark Invest's ARKB was the only spot bitcoin ETF to record net inflows on Tuesday, adding $3.6 million. Meanwhile, outflows from Grayscale's GBTC ($93.2 million), Fidelity's FBTC ($35.3 million), and Bitwise's BITB ($34.3 million) contributed to net inflows of 161 million. .6 million USD on the day, according to CoinGlass data.

Source: CoinGlass

Total net inflows for combined US spot bitcoin ETFs since trading began on January 11 are now back below the $12 billion mark at $11.8 billion.

Daily trading volumes of ETFs have also dropped significantly after hitting a record $9.9 billion on March 5 – when bitcoin first surpassed its previous cycle peak of around $69,000 – recorded a trading volume of $2.9 billion on Tuesday.

BlackRock's IBIT dominates market share thanks to spot bitcoin ETF trading volume while GBTC continues to be squeezed as capital outflows taper.

BlackRock's IBIT is about to surpass Grayscale's GBTC

Despite BlackRock's bitcoin spot ETF having zero inflows, it is still on track to surpass Grayscale's GBTC fund in terms of assets under management. IBIT currently has 274,462 BTC ($15.6 billion) in AUM compared to GBTC's 296,714 BTC ($16.9 billion), according to their respective fund pages.

Market share of spot Bitcoin ETFs | Source: The Block

The GBTC fund saw its assets fall 52% from 619,220 when spot bitcoin ETF trading began. However, given the rise in bitcoin prices during this period, this equates to a 41% decline against the US dollar compared to $28.6 billion on January 11.

Bitcoin price also got off to a bad start in May, falling about 8% today alone and quickly falling below $57,000 for the first time since February. Largest cryptocurrency by capitalization The market is currently trading for $57,500.


Source: https://tapchibitcoin.io/hon-340-million-usd-da-bi-rut-ra-tu-cac-quy-etf-bitcoin-delivery-right-cua-my-in-month-4. html