Bitcoin (BTC) News Today: Halving Looms as Spot ETF Flows Reflect Investor
- Grayscale Bitcoin Trust (GBTC) saw net outflows of $110.1 million (April 15), down from $166.2 million (April 12).
- iShares Bitcoin Trust (IBIT) saw net inflows fall from $111.1 million to $73.4 million.
- Fidelity Wise Origin Bitcoin Fund (FBTC) and the rest of the BTC-spot ETF market had zero net flows.
- Significantly, FBTC saw zero net flows for the second successive session.
- The BTC-spot ETF market saw net outflows of $36.7 million (April 15), down from $55.1 million (April 12).
Geopolitical tensions in the Middle East, falling bets on a 2024 Fed rate cut, and the looming Bitcoin halving likely impacted flows.
On Tuesday, Fed Chair Powell warned of a higher-for-longer Fed interest rate path to allow the Fed to gain confidence inflation was moving to target. Subdued BTC-spot ETF market flow data also tested buyer demand for BTC. Nevertheless, hopes for tougher sanctions on Iran over an Israeli retaliation were positive for riskier assets.
However, BTC-spot ETF market flow data for April 16 remained lackluster despite updates from the Middle East.
BTC-Spot ETF Market Faces Net Outflows for a Third Session
Flow data for April 16 suggested a third successive day of net outflows. An extended period of net outflows could impact buyer demand for BTC. According to Farside Investors,
- GBTC saw net outflows of $79.4 million.
- ARK 21Shares Bitcoin ETF saw net outflows of $12.9 million.
- FBTC saw net inflows of $1.4 million.
Excluding IBIT and Valkyrie Bitcoin Fund (BRRR) flow data, the BTC-spot ETF market saw net outflows of $85.5 million.
IBIT inflow numbers have limited the impact of BTC-spot ETF market flow data on BTC.
Read More: Bitcoin (BTC) News Today: Halving Looms as Spot ETF Flows Reflect Investor