<\/p>\n
The latest inflow on April 22 was $19.7 million which means that BlackRock is now in the top ten of longest daily inflow streaks for all US exchange-traded funds.<\/p>\n
The 70-day milestone ties BlackRock\u2019s IBIT fund with JETS, an ETF that combines shares in an index of airline industry companies.<\/p>\n
It has also achieved 70 straight days of inflows, as Bloomberg ETF analyst Eric Balchunas observed yesterday.<\/p>\n
\n$IBIT<\/a> inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS<\/a> (a streak I was equally as fascinated by) altho streak ending today would be pretty hilarious, show financial gods have sense of humor via @thetrinianalyst<\/a> pic.twitter.com\/niDzfaKqgp<\/a><\/p>\n
\u2014 Eric Balchunas (@EricBalchunas) April 22, 2024<\/a><\/p>\n<\/blockquote>\n
BlackRock Commanding ETF Markets<\/h2>\n
Despite aggregate outflows for all trading days between Apil 12 and 18, BlackRock has continued to see inflows, albeit much smaller than their average.<\/p>\n
The IBIT fund has seen $111.7 million in inflows over the past five trading days. However, three of those have seen net outflows from all spot Bitcoin ETFs due to Grayscale\u2019s GBTC still hemorrhaging assets.<\/p>\n
The tide has turned again, however, with April 22 showing a net inflow of $62.2 million, according to preliminary data<\/a> from Farside Investors.<\/p>\n
In addition to BlackRock, Inflows were boosted by Fidelity (FBTC) and ARK 21Shares (ARKB), which had $34.8 million and $22.6 million, respectively.<\/p>\n
Even the Franklin Bitcoin ETF (EZBC) and VanEck Bitcoin Trust (HODL) saw inflows of $7.7 million and $7.5 million, respectively. These, and many of the other smaller funds, have had many days of zero flows. However, analysts explained that this was perfectly normal<\/a> for these types of investment products.<\/p>\n
Glassnode analyst \u2018Checkmatey\u2019 observed that there had yet to be a major exodus from Bitcoin ETFs (aside from Grayscale).\u00a0Moreover, even GBTC\u2019s outflows<\/a> had slowed this week, falling to $35 million on Monday.<\/p>\n
\nWe we\u2019re promised that all the degen traders would exit the #Bitcoin<\/a> ETFs (excl GBTC) at the first sign of a correction\u2026<\/p>\n
\u2026when does that process start exactly?https:\/\/t.co\/PhKr5CoMF3<\/a> pic.twitter.com\/70uj8VU3Ix<\/a><\/p>\n
\u2014 _Checkmate \ud83d\udfe0\ud83d\udd11\u26a1\u2622\ufe0f\ud83d\udee2\ufe0f (@_Checkmatey_) April 22, 2024<\/a><\/p>\n<\/blockquote>\n
Crypto Market Outlook<\/h2>\n
The renewed interest in Bitcoin ETFs comes as markets show signs of recovery from their 18% pre-halving correction<\/a>.<\/p>\n
BTC has now recovered 5% since the weekend halving and was trading up 1% on the day at $66,300 during the Tuesday morning Asian trading session.<\/p>\n
The altcoins were a mixed bag with larger gains for Solana (SOL), Ripple (XRP), and Near Protocol (NEAR), but losses for Toncoin (TON), Shiba Inu (SHIB), and Chainlink (LINK).<\/p>\n