From Investing.com: 2024-04-18 16:30:37

Recent data shows a temporary downturn in Bitcoin spot ETF flows, with net outflow of $165 million reported. Grayscale’s GBTC saw a net outflow of $133 million, while BlackRock’s IBIT had an inflow of $18.09 million. Expert Eric Balchunas warns against premature conclusions, noting natural market fluctuations and positive inflows in IBIT.

Balchunas attributes recent Bitcoin price drop to market dynamics, not asset weakness, highlighting significant gains since BlackRock’s filing. IBIT boasts impressive performance, ranking 13th in all-time ETF inflows out of 3,000+. With $15.3 billion in net flows, IBIT remains a prominent player in the ETF landscape despite recent headlines of waning interest.

While headlines suggest fading Bitcoin ETF interest, Balchunas’ analysis argues otherwise, emphasizing ongoing hype and potential for growth in these investment vehicles.

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