BlackRock IBIT Halts Inflow for 21 Trading Days as BTC ETF Market Experiences Turbulence

BlackRock IBIT Halts Inflow for 21 Trading Days as BTC ETF Market Experiences Turbulence

Sure! Here is the short article using summary and following the instructions you provided: BlackRock IBIT Halts Inflow for 21 Trading Days as BTC ETF Market Experiences Turbulence BlackRock's iShares Bitcoin Trust (IBIT) recorded zero fund inflows for 21 consecutive trading days, according to data from financial information platform Farside Investors. This pause in inflows comes amid a period of volatility in the Bitcoin ETF market. In addition to BlackRock IBIT, other major Bitcoin ETFs have also experienced outflows in recent days. Fidelity's FBTC has recorded net outflows for six consecutive trading days, while Ark Invest's ARKB has recorded net outflows for five consecutive trading days. On the day that BlackRock IBIT recorded zero inflows, the total net outflow of all US BTC spot ETFs was tallied at $168.4 million. Despite the outflows, the daily trading volume of BTC spot ETFs exceeded $5 billion that day, with BlackRock IBIT accounting for more than half of it ($3 billion). The reasons for the recent outflows from BTC ETFs are not entirely clear. However, it is worth noting that the price of Bitcoin has been relatively flat in recent weeks, which may have led some investors to take profits. Additionally, the regulatory landscape for Bitcoin ETFs remains uncertain, which may also be deterring some investors. Despite the recent outflows, BlackRock IBIT remains the largest Bitcoin ETF in the world, with over $13 billion in assets under management. It is also worth noting that the Bitcoin ETF market is still in its early stages of development, and it is likely to experience volatility in the future.