BlackRock’s IBIT Flats Despite Bitcoin ETF Rebound of $21.5M

As the total inflows hit $21.52 million on June 26, the US spot Bitcoin ETFs are gradually rebounding, maintaining the upward trend that started on Tuesday.

After 13 days with no activity or outflows of money, Grayscale (GBTC) saw its first influx of $4.3 million.

But over the last four days, BlackRock’s iShares Bitcoin Trust (IBIT) has not disclosed any fresh investments. Though not as long as it once was, the fund recorded five days without any inflows in April.

It’s critical to recognize that BlackRock’s activity has been declining, with just two small inflows of less than $2 million since June 14.

As previously noted by Bloomberg ETF expert James Seyffart, zero flows in an ETF occur when supply and demand equal out, hence not encouraging the issuance or redemption of shares.

However, the absence of inflows does not imply that there is no trading activity; rather, it indicates that the net flow isn’t substantial enough to necessitate share changes.

Zero flows also befell other spot Bitcoin ETFs on the same day, including BITB by Bitwise, BTCO by Invesco and Galaxy Digital, and BRRR by Valkyrie offers.

In contrast, according to SoSoValue data, Fidelity’s FBTC received the most significant net inflows of the day, totaling $19 million. From June 13 to June 24, there was a seven-day run of withdrawals from the fund. Since then, the trend has changed, with FBTC leading the group as the spot Bitcoin ETFs ended their losing run on June 26.

Grayscale’s GBTC attracted slightly more than $4 million yesterday, its first positive flows since June 5.

These investment vehicles have seen net inflows of $14.44 billion since their launch in January.