ETF on Bitcoin spot: the inflow returns to be positive with the halving

During this period of Bitcoin halving, all eyes are on the flows and prices related to it. In the case of Bitcoin spot ETFs, it seems that the five consecutive days of outflows have ended, with the return of positive inflows. The latest data from yesterday shows inflows equivalent to $62.2 million.

Bitcoin spot ETF: inflow turns positive at $62.2 million after halving

It seems that the Bitcoin halving event is changing a general negative trend on inflows of Bitcoin spot ETFs, which are now capturing market BTC again. 

“Yesterday the #Bitcoin ETF spot recorded a positive inflow of 62,200,000 dollars”

And in fact, according to the data from Farside, it seems that yesterday, the total inflows recorded by Bitcoin ETFs were equivalent to $62.2 million.

A figure higher than the still positive inflows recorded even last Friday, April 19th, of a whopping 59.7 million dollars. 

Yet, for five consecutive days before the halving, from April 12th to April 18th, the Bitcoin spot ETF sector continued to record significant outflows. The highest was equivalent to 165 million dollars, recorded on April 17th. 

Returning to yesterday’s positive day, there is still an exchange-traded fund that seems to struggle to follow the general positive trend. This is Grayscale’s Bitcoin Trust (GBTC), which throughout the month of April continues to record outflows, struggling to maintain the 300,000 BTC.

Bitcoin spot ETFs: positive inflows after the halving and BlackRock’s continued growth

And while Grayscale continues to record continuous outflows, on the other hand there is BlackRock which seems to be registering net inflows for the 70th consecutive day. 

With yesterday’s inflow result of $19.7 million, BlackRock’s spot Bitcoin ETF – iShare Bitcoin Trust (IBIT), has entered the top 10 of exchange-traded funds with the highest daily inflow streak. 

“The streak of inflows of $IBIT is currently at 69 DAYS. Just one more day and it enters the Top 10 and reaches $JETS (a streak that fascinated me in the same way) even though the streak ending today would be quite hilarious, proving that the finance gods have a sense of humor via @iltrinista”

Not only that, according to the financial institution, BlackRock’s Bitcoin spot ETF added over $600 million in assets under management on Monday, bringing its total AUM to $18.16 billion.

For Van Eck, retail investors are driving capital inflows

In a recent interview, the CEO of VanEck, Jan van Eck, stated that in his opinion, in these first months of 2024, 90% of the capital inflows of Bitcoin spot ETFs still come from retail investments.

This means that, according to Eck, institutional investors have not yet entered the market. 

In this regard, Eck also adds that to date no US bank has officially approved or allowed its financial advisors to recommend Bitcoin.

In this sense, Eck is super optimistic about the growth of this market niche, believing that from next month, there could be big news. 

The CEO of VanEck sees the possibility that Bitcoin ETFs could finally start to attract some significant institutional investments from banks and traditional companies.