BlackRock Isshares Bitcoin (BTC) Trust ETF (IBIT) saw an inflow of $970 million and marked the second largest net inflow since its launch in January 2024.
Monday saw heavy leaks from competitors, with $591.2 million in new capital. Fidelity’s FBTC lost $86.9 million, Bitwise’s BITB cut $21.1 million, and ARK’s ARKB saw a $226.3 million spill.
The rise is currently trading at $94,900, along with a 7.2% increase in BTC over the past seven days.
Since April 22, IBIT has accumulated over $4.5 billion in net inflows, bounced back to market trends.
Industry experts took notes. “We’re looking forward to seeing you in the future,” said Nate Geraci, president of ETF Store.
“Nearly $1 billion in today’s iShares Bitcoin ETFs… the second largest inflow since its launch in January 2024. I remember there was “no demand.” ”
Eric Bulknas, senior analyst at Bloomberg ETF, added:
“ETF is a mode that is two steps ahead after a step back. It’s a truly predicted pattern.”
Meanwhile, in the derivatives market, open interest (OI) in CME Bitcoin futures has continued to decline, and now sits at 132,750 BTC after a four-day straight decline.
According to VELO data, the recent decline in open profits may be coming to an end, as annual yields rose from around 5% to 9% in April. This revival in the profitability of basic trade could be exposed, prompting new activities and short-term rebounds.
Why it matters: In a typical base trading, investors close the price gap by buying spot bitcoin and short bitcoin futures. High yields will increase demand for futures and increase OI. As yields reduced, fewer traders engaged in the strategy, lowered open interest and lowered market leverage.