HomeLearn & EarnBlackRock's Bitcoin ETF Fails to Attract New Investments in First Week of...

BlackRock’s Bitcoin ETF Fails to Attract New Investments in First Week of Trading

Published on


Challenges Faced by BlackRock’s Bitcoin ETF IBIT

In a surprising twist of events, BlackRock’s Bitcoin ETF, IBIT, has failed to attract any new investments for the fifth consecutive trading day. This lack of interest in IBIT comes despite a recent uptick in overall inflows into spot Bitcoin ETFs earlier in the week, raising concerns about the future of Bitcoin ETFs in the market.

While spot Bitcoin ETFs saw approximately $11.8 million in inflows on June 27, BlackRock’s IBIT ETF did not benefit from this trend. On the other hand, Grayscale’s GBTC experienced significant outflows of $11.4 million on the same day, with total outflows nearing $18.5 billion since its inception.

Market analysts, however, remain optimistic as BlackRock has been actively acquiring Bitcoin for its various funds, including the Global Allocation Fund through the IBIT Bitcoin ETF. This internal support from BlackRock showcases confidence in the potential of Bitcoin ETFs, despite the lack of external investor interest in IBIT.

The diminishing excitement around Bitcoin ETFs can be attributed to the Fed’s hawkish stance on inflation and the anticipation of ETFs for other popular crypto assets like Solana and Ethereum. Analysts speculate that spot Ethereum ETFs may launch soon, with projections suggesting a significant market share for Ethereum ETPs.

With competition heating up in the crypto ETF space, investors are exploring options beyond Bitcoin, including Solana and Ethereum. While the zero inflows into BlackRock’s IBIT ETF may raise concerns, the broader context suggests a shifting landscape in the digital asset market.

As investors navigate the evolving crypto landscape, it is essential to conduct thorough research and assess risk tolerance before making any financial decisions in this highly volatile asset class.

Latest articles

Is Binance Coin on the Verge of Crossing $600 as it Holds Steady at $590?

Analysis of Binance Coin (BNB) Price Trends and Market Behavior The Binance Coin (BNB)...

Bitcoin Price Drops 8% from All-Time High: 5 Key Updates to Know This Week

Bitcoin (BTC) Continues Comeback Towards All-Time Highs: What's Next? Bitcoin (BTC) is starting a...

Forbes Advisor Australia: Top 10 Cryptocurrencies for July 2024

Top 10 Cryptocurrencies Based on Market Capitalisation and Potential Headline: Title: Top 10 Cryptocurrencies in...

What’s next after Joe Biden exits the presidential race?

Uncharted Territory: Biden Withdraws from 2024 Presidential Race - What Happens Next? President Joe...

More like this

Is Binance Coin on the Verge of Crossing $600 as it Holds Steady at $590?

Analysis of Binance Coin (BNB) Price Trends and Market Behavior The Binance Coin (BNB)...

Bitcoin Price Drops 8% from All-Time High: 5 Key Updates to Know This Week

Bitcoin (BTC) Continues Comeback Towards All-Time Highs: What's Next? Bitcoin (BTC) is starting a...

Forbes Advisor Australia: Top 10 Cryptocurrencies for July 2024

Top 10 Cryptocurrencies Based on Market Capitalisation and Potential Headline: Title: Top 10 Cryptocurrencies in...
bitcoin
Bitcoin (BTC) $ 104,963.12
ethereum
Ethereum (ETH) $ 2,522.21
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.17
bnb
BNB (BNB) $ 645.42
solana
Solana (SOL) $ 146.35
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.274207
dogecoin
Dogecoin (DOGE) $ 0.170822
staked-ether
Lido Staked Ether (STETH) $ 2,520.61