Summary
TLDR: Net inflows into spot bitcoin ETFs slowed last week but remained positive. Genesis finished selling its shares of GBTC, impacting flows. Year-to-date inflows into digital asset investment products hit $13.8 billion, exceeding all of 2021. BlackRock’s IBIT led with $811 million net inflows, while GBTC saw $738 million net outflows. Spot bitcoin ETF inflows have driven a record seven-month streak of bitcoin price growth, but some analysts predict a possible downward trend in the coming months.
Key Points
1. Net inflows into spot bitcoin ETFs slowed last week, but remained positive before bitcoin’s price shot up above $72,000 Monday morning.
2. Bankrupt lender Genesis finished selling its shares of the Grayscale Bitcoin Trust ETF (GBTC) — a process that appeared to periodically weigh down the segment from a flows perspective.
3. The 11-fund US BTC fund segment reeled in $485 million of positive net flows from April 1 to April 5, according to Farside Investors data.