According to Bloomberg on April 20, spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced a rebound, with inflows of approximately $60 million. This increase in buying activity coincided with Bitcoin’s successful halving and the recovery of its price.
Investors showed optimism, particularly in the Fidelity Bitcoin ETF (FBTC) and the iShares Bitcoin ETF (IBIT) managed by BlackRock. BlackRock saw an inflow of $29.3 million, a significant improvement from the previous three days. Additionally, Bitcoin holdings increased by more than 17.55%, bringing BlackRock’s net inflow to over $15.42 billion.
Other ETFs also experienced inflows, with Fidelity Bitcoin ETF reporting $54.8 million, Ark 21Shares Bitcoin ETF reporting $12.5 million, and Bitwise Bitcoin ETF reporting $4.9 million. On the other hand, the outflows from Grayscale GBTC slowed down on Friday, decreasing from $90 million to $45.8 million. This brought the total outflows from the Grayscale BTC ETF to $16.70 billion. Despite this, the market remains optimistic, even though Grayscale CEO Michael Sonnenshein expects a slowdown in outflows.
Although spot and futures trading volumes have been modest, recent data suggests a general positive sentiment in the market. This optimism can be attributed to concerns over the Israel-Iran tensions.