
The Bitcoin ETF market witnessed significant movements on April 13, 2024, with a total net outflow of $55.1 million. BlackRock's Bitcoin ETF, $IBIT, stood out by being the only ETF to record an inflow, further solidifying its position by amassing 270,966 BTC. This achievement marks $IBIT as the only ETF to have taken cash for 64 consecutive days from its launch. Meanwhile, Grayscale's Bitcoin Trust ($GBTC) experienced substantial outflows totaling $166.2 million, contributing to the overall market volatility. BlackRock's ETF not only captured 20% of the company's total net ETF inflows in Q1 but also became the fastest-growing ETF in history, as stated by BlackRock CEO Larry Fink, with nearly $20 billion in assets under management (AUM). These developments indicate a shifting landscape in the Bitcoin ETF market, with BlackRock emerging as a dominant player.
Blackrock and Fidelity Absorb #Bitcoin Despite GBTC’s Outflow https://t.co/hwwnFYbmkp
US Spot #Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility https://t.co/hwwnFYbmkp
BlackRock CEO Larry Fink: "Our bitcoin fund, which was launched in January, was the fastest growing ETF in history, and already has nearly $20 billion in AUM" $BLK






