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BlackRock Bitcoin ETF Sees Zero Daily Inflows, a First Since Launch

Key Takeaways

  • On April 24, BlackRock's iShares Bitcoin Trust (IBIT) recorded no new inflows for the first time since its launch;
  • Of the eleven Bitcoin ETFs, only FBTC and ARKB attracted new investments on that day;
  • The US SEC is delaying decisions on Ether ETFs.
BlackRock Bitcoin ETF Sees Zero Daily Inflows, a First Since Launch

On April 24, for the first time since the US approved Bitcoin exchange-traded funds (ETFs), BlackRock's iShares Bitcoin Trust (IBIT) experienced a day with no new inflows.

Until this point, IBIT had consistently attracted investments every day since its launch in January, amassing about $15.5 billion over 71 days.

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While IBIT’s zero-inflow day was a first, it's not unique in the broader Bitcoin ETF market, as other funds have also experienced days with no new investments in recent weeks.

According to Farside data, on that day, of the eleven Bitcoin ETFs registered in the US, only the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) saw new inflows, drawing $5.6 million and $4.2 million, respectively.

BlackRock Bitcoin ETF sees zero daily inflows, a first since launch: Bitcoin ETF flow table from Farside

The Grayscale Bitcoin Trust ETF (GBTC) continued its decline with outflows of $130.4 million, contributing to a net outflow of $120.6 million across all Bitcoin ETFs. Grayscale's total outflows now stand at around $17 billion.

Moreover, several Bitcoin ETF participants are seeking regulatory approval to launch Ether-based ETFs. However, the US Securities and Exchange Commission (SEC) has postponed its decision on these applications. In an April 23 notice rule, the SEC stated:

The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1, and the issues raised therein.

Therefore, BlackRock’s IBIT recording a day without inflows coincides with regulatory hesitations and challenges, reflecting the complexity of crypto investments.

Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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