Summary
TLDR: Demand for spot bitcoin ETFs has slowed down ahead of the BTC halving, with net outflows totaling $319 million over five days. The Grayscale Bitcoin Trust (GBTC) and Ark 21Shares Bitcoin ETF (ARKB) have seen significant outflows, while BlackRock’s iShares Bitcoin Trust (IBIT) has maintained positive daily flows. Despite recent outflows, US spot bitcoin ETFs have welcomed $12.3 billion in net inflows in just over three months on the market. The slowdown in demand is considered normal after a rapid pace of growth, especially during a bitcoin price dip.
Key Points
1. Demand for spot bitcoin ETFs has slowed down in the days ahead of the BTC halving.
2. The fund category collectively tallied net outflows for a fifth straight day on Thursday — albeit only slightly at about $4 million, according to Farside Investors data.
3. The five-day net outflow total beginning on April 12 amounts to $319 million, reflecting an average of $64 million over the span. That peaked on Wednesday, when $165 million left the 11-fund sector.