Even BlackRock Sees $100 Million Outflow...Is Bitcoin Spot ETF Collapsing Like This?

▲ Bitcoin (BTC) ETF

Massive funds have flowed out of BlackRock's Bitcoin (Bitcoin, BTC) spot ETF. There is an assessment that the Bitcoin spot ETF market has entered a full-blown cooling-off period.

According to a report by NewsBitcoin on April 29 (local time), $112.6 million flowed out of BlackRock's IBIT, the world's largest asset manager. A total net outflow of $563.7 million occurred from all 10 Bitcoin spot ETFs listed in the U.S. in one day. This is the largest capital exodus since the launch of Bitcoin spot ETFs. BlackRock's IBIT, which first recorded an outflow of $36.9 million on May 1, could not avoid a massive capital outflow this time either.

Fidelity's FBTC saw the largest capital reduction in the market with an outflow of $191.1 million. Grayscale's GBTC also saw $167.4 million flow out. Ark Invest's ARKB experienced an outflow of $98.1 million, and Bitwise's BITB recorded a net outflow of $29 million. In contrast, Hashdex's DEFI maintained a zero state with no inflows or outflows.

Bitcoin's price was pushed down to the $57,000 level, increasing market volatility. Investors are experiencing extreme fatigue due to the decline in inflows into Bitcoin spot ETFs. The momentum that attracted trillions of won since its launch in January seems to have completely broken. The market believes that institutional investors are reducing their exposure to risky assets and engaging in profit-taking.

The cumulative net inflow amount has shrunk to $11.2 billion. The capital flow in the Bitcoin spot ETF market is expected to remain in a conservative stagnation for some time. The analysis that a strong additional buying spree by institutions must precede a Bitcoin price rebound is gaining traction. Participants in the virtual asset market are closely monitoring the rate of capital outflow from Bitcoin spot ETFs and readjusting their investment strategies.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*