April was the toughest month yet for spot bitcoin ETFs, but the funds remain largely successful.
April has proved to be a tough month for the spot bitcoin ETFs. Or at least the toughest month they’ve faced so far; on the whole the new ETFs still remain largely successful.
On April 2, we saw $87.5 million pulled from Ark Invest and 21Shares’ ARKB, which is the third largest of the new ETFs by AUM. The ETF saw outflows on April 16-17 and April 25, as well. The most jarring, perhaps, was Fidelity’s FBTC seeing $22.6 million of outflows on April 25. Again, while this is largely insignificant in the grand scheme of things for the ETF, it does seem to mark a changing tide of sentiment.
The two popular ETF analysts at Bloomberg, James Seyffart and Eric Balchunas, have both been vocal online about the fact that this trend is normal. Seyffart wrote a thread about the commonality of ETFs tracking no flows, and when many expressed panic when ARKB first showed outflows, they clarified that outflows are also typical in mature ETFs, but the crazy success of the ETFs in the early days made it look abnormal.
Markets Public Equities Bitcoin-Etf Spot Bitcoin ETF
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin ETFs Traded Staggering $111 Billion in MarchBitcoin ETFs had a stellar month, but they are already seeing waning momentum in April
Read more »
Hong Kong Bitcoin and Ether ETFs officially approved to start trading on April 30Hong Kong's financial regulator has officially approved the first batch of spot Bitcoin and Ether ETFs for trading.
Read more »
Hong Kong's 'in-kind' spot bitcoin and ether ETFs to start trading April 30Newly approved spot crypto ETFs, six total, will begin trading at the end of this month and mainland Chinese investors are excluded.
Read more »
Hong Kong spot Bitcoin ETF approval draws praise and caution from industry playersHong Kong spot Bitcoin and Ether ETFs were approved on April 15.
Read more »
Vote for Mid-Penn softball player of the week for games played April 22-April 27Click here for the latest PennLive MPC softball fan vote.
Read more »
See all homes sold in these New Jersey counties, April 8 to April 14See all homes sold in these New Jersey counties from April 8 to April 14, 2024.
Read more »