Bitcoin ETFs stall: BlackRock ends 71-day streak, Fidelity sees first outflows

Fortune04-26

This week, two of the most successful exchange-traded fund launches in history showed signs of abating interest. On Wednesday and Thursday, BlackRock's spot Bitcoin ETF, IBIT, which has been winning ...

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On Wednesday and Thursday, BlackRock's spot Bitcoin ETF, IBIT, which has been winning ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bitcoin-etfs-stall-blackrock-ends-154511218.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1599440770.SGD","symbol_name":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/bitcoin-etfs-stall-blackrock-ends-154511218.html","article_id":"2430982784","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Q4FqyLgE_Dfvo1ItwfIMJg--~B/aD0xMzY1O3c9MjA0ODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/fortune_175/fce01cc670b1353d6b7b9910d77e9f86"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430982784","pubTimestamp":1714146311,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"This week, two of the most successful exchange-traded fund launches in history showed signs of abating interest. On Wednesday and Thursday, BlackRock's spot Bitcoin ETF, IBIT, which has been winning the “cointucky derby” by a margin, saw zero inflows, according to CoinGlass data.This ended its 71-day streak of fresh investments, which totaled around $17.24 billion in assets under management since the product was approved for trading Jan. 11. Also, on Thursday, Fidelity’s FBTC, the current runner-up in the ETF race, reported losses of $22.6 million, its first reported outflow, taking its assets under management to around $9.9 billion, according to CoinGlass data.The easing interest in the two leading Bitcoin ETFs  is a key indicator of the cryptocurrency market’s cooling over the last month, and a suggestion that the initial ETF frenzy that caused Bitcoin to skyrocket, has settled. Currently trading at around $63,500, Bitcoin has dropped approximately 12% since its all-time high of $73,","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","GBTC":"Grayscale Bitcoin Trust","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","DEFI":"Hashdex Bitcoin ETF","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","FBTC":"Fidelity Wise Origin Bitcoin Fund","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","BITB":"Bitwise Bitcoin ETF","BK4534":"瑞士信贷持仓","BK4594":"比特币ETF概念","BK4135":"资产管理与托管银行","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","HODL":"VanEck Bitcoin Trust ETF","BITO":"ProShares Bitcoin Strategy ETF","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4535":"淡马锡持仓","BTCO":"Invesco Galaxy Bitcoin ETF","BTCW":"WisdomTree Bitcoin Fund","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4550":"红杉资本持仓","FDN":"First Trust Dow Jones Internet I","BK4588":"碎股","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","EZBC":"Franklin Bitcoin ETF","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","BLK":"贝莱德","BRRR":"Valkyrie Bitcoin Fund","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IBIT":"iShares Bitcoin Trust","BK4581":"高盛持仓","BK4504":"桥水持仓","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H"},"translate_title":"比特币ETF停滞：贝莱德结束71天连胜，富达首次出现资金外流","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BITO":1,"IBIT":1,"HODL":1,"GBTC":1,"FBTC":1,"EZBC":1,"DEFI":1,"BTCW":1,"BTCO":1,"BRRR":1,"BLK":1,"BITB":1,"FDN":0.9},"content_text":"This week, two of the most successful exchange-traded fund launches in history showed signs of abating interest. On Wednesday and Thursday, BlackRock's spot Bitcoin ETF, IBIT, which has been winning the “cointucky derby” by a margin, saw zero inflows, according to CoinGlass data.\nThis ended its 71-day streak of fresh investments, which totaled around $17.24 billion in assets under management since the product was approved for trading Jan. 11. Also, on Thursday, Fidelity’s FBTC, the current runner-up in the ETF race, reported losses of $22.6 million, its first reported outflow, taking its assets under management to around $9.9 billion, according to CoinGlass data.\nThe easing interest in the two leading Bitcoin ETFs (excluding Grayscale’s GBTC) is a key indicator of the cryptocurrency market’s cooling over the last month, and a suggestion that the initial ETF frenzy that caused Bitcoin to skyrocket, has settled. Currently trading at around $63,500, Bitcoin has dropped approximately 12% since its all-time high of $73,000 in March. On Thursday, only one of the 10 trading spot Bitcoin ETFs, Franklin Templeton’s EZBC, reported inflows.\n\nWhile $IBIT's daily inflow streak is over at 71 days, it is not done setting records. Here's a look at ETFs all time by assets after first 72 days on market. The league of own-ness of IBIT, FBTC et al shows how overheated it all was, a breather was overdue tbh @thetrinianalyst pic.twitter.com/CwarhzTOIC— Eric Balchunas (@EricBalchunas) \n April 25, 2024\n\nDisappointing inflation data has slashed hopes for Federal Reserve interest rate cuts, and higher-for-longer borrowing costs typically dampen the market's appetite for riskier, more volatile investments like crypto. Meanwhile, Bitcoin has treaded water since early March, partially reflecting ETF stagnation but also in the run-up to the network's so-called \"halving\" that occurred on April 19, as “buy the rumor, sell the news” investors liquidated their holdings.\nIt’s typical to see ETF flows follow the performance of the underlying asset, so a pause in Bitcoin’s price is likely resulting in a shorter-term hiatus in inflows, Nate Geraci, president of the ETF Store, told Fortune, but the products are still “extremely early” in adoption.\nMany large institutions “have yet to even allow their brokers to solicit purchases of spot bitcoin ETFs, and registered investment advisors are still slowly wading into the category,\" Geraci added. \"The bottom line is that flows in any ETF category aren’t going to go up in a straight line—they’ll ebb and flow over time.\"\nDespite the recent stagnation, the funds are largely considered to be a runaway success, amassing over $54 billion in assets in just over three months of trading, putting Bitcoin-tracked assets in the portfolios of millions of mainstream investors. \nOne testament to their success: Last week, Hong Kong’s Securities and Futures Commission granted approvals for three spot Bitcoin and Ether ETFs, which will begin trading on Tuesday, with further countries expected to follow suit. Issuer Harvest is waiving a management fee for its funds, which some anticipate will trigger a fee war similar to the heated one in the U.S., where Grayscale announced a Bitcoin Mini Trust with ultra-low fees of 0.15% in a bid to capture some of the outflows from GBTC, which charges 1.5%.\nThis story was originally featured on Fortune.com","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430982784"}