Bitcoin ETF Inflows Show Mixed Signals as BlackRock's IBIT Sees No Growth

Bitcoin ETF Inflows Show Mixed Signals as BlackRock's IBIT Sees No Growth

The Bitcoin ETF market has shown mixed signals in the last 24 hours, with a total inflow of 428 BTC ($36.84 million) across spot Bitcoin ETFs. However, BlackRock’s Spot Bitcoin ETF (IBIT) did not see any inflows during this period, despite holding a significant 570,582.4137 BTC, valued at approximately $48.29 billion. This represents about 50% of all Bitcoin held by ETF issuers, with Fidelity’s FBTC trailing far behind.

While IBIT experienced no outflows either, the lack of inflows suggests a cautious stance from market participants. BlackRock has been slowly acquiring cryptocurrency in recent weeks, indicating it remains active in the market, albeit at a modest pace compared to previous levels.

Meanwhile, other ETFs have stepped in to fill the gap left by IBIT. Bitwise’s BITB added 142 BTC ($12.07 million), and Invesco Galaxy’s BTCO acquired 295 BTC ($25 million). This shift highlights a potential change in investor preferences and sentiment.

Whether this is a short-term trend or the start of a new pattern remains to be seen. For now, the lack of inflows into IBIT serves as another indicator that the Bitcoin market may not be as bullish as previously anticipated.