Category: Forex News

Bitcoin (BTC) News Today: Spot ETF Market Trends Fuel Speculation About a Dry Up

GBTC saw net outflows of $169.9 million on March 22 versus $358.8 million on March 21 and $642.5 million of net outflows on March 18. Outflows on March 18 were the highest since the launch of the Nine on January 11.

With GBTC net outflows of $2,001.3 million in the week ending March 22, the markets anticipate net outflows to fall significantly. Investors attributed the GBTC net outflows to the bankruptcy court ruling, allowing Genesis Global Holdco LLC to liquidate GBTC shares worth approximately $1.3 billion.

The BTC-spot ETF market saw five consecutive days of net outflows in the week ending March 22. BTC-spot ETF market flow data for March 25 could impact buyer demand for BTC late in the session. GBTC outflows and inflow data for iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) will likely be the focal points.

IBIT and FBTC registered 51 consecutive days of net inflows on Friday. However, Five consecutive sessions of total net outflows fueled speculation about the BTC-spot ETF market seeing inflows dry up.

President of ETF Store Nate Garaci had this to say about the BTC-spot ETF market flow trends,

“Spot bitcoin ETFs have taken in a net $11bil & have $50bil AUM in 2+ months & the media is already trying to call it over… No idea what happens w/ flows moving forward, but someone pls tell them numerous RIAs & brokerage platforms haven’t even approved these things for use yet.”

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