US Bitcoin ETFs Attract Nearly $1 Billion in a Single Week, BlackRock's IBIT Leads the Way

BroadChain has learned that at 03:16 on April 20, according to Bitcoinist, driven by the easing of tensions in the Middle East, bullish sentiment for Bitcoin has increased, with funds continuously flowing into U.S. spot Bitcoin ETFs. Data shows that over the past week (as of April 17), U.S. spot Bitcoin ETFs saw a net inflow of approximately $996 million, marking the second consecutive week of net inflows. Specifically, on April 17 alone, the net inflow reached $663.9 million, representing the fourth consecutive day of net inflows. BlackRock's iShares Bitcoin Trust (IBIT) led the way with a net inflow of $283 million, while Fidelity's Wise Origin Bitcoin Fund (FBTC) and Ark 21Shares Bitcoin ETF (ARKB) recorded net inflows of $163.42 million and $117.9 million, respectively. Products such as Grayscale Bitcoin Trust (GBTC) also saw positive inflows. On-chain analyst Darkfost pointed out that since March, ETF fund flows have significantly shifted to being dominated by net inflows. Currently, ETF trading volume has risen to $4.7 billion, approaching the spot market trading volume of approximately $6.2 billion. However, the average cost basis for ETF holders is around $82,247, meaning they are still in a floating loss position. As of the time of writing, Bitcoin is trading at $75,664, with a 24-hour decline of over 2%.