BlackRock’s Bitcoin ETF Posts Inflows Breaking Negative Streak
According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) finally broke its 13-day streak of experiencing neutral or negative flows, attracting $15.8 million on Monday.
This comes after the fund saw a total of $23.1 million in net outflows during the streak, a minimal amount compared to the fund’s assets under management of over $20 billion.
The 10 US-based spot ETFs collectively had $1 billion in outflows during the same time period. These outflows occurred as the price of Bitcoin dropped in late August and early September, causing uncertainty in the market due to factors such as the upcoming US presidential election and the Federal Reserve’s upcoming decision on interest rates.
In August, Bitcoin saw a 9% decrease in price, and it continued to decline in the first week of September.
