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📈 Blackrock Boosts Bitcoin ETFs Amidst Withdrawals
💰 Bitcoin ETFs experienced their seventh consecutive day of inflows, largely thanks to Blackrock's significant addition of $971 million. This surge occurred despite considerable withdrawals from other funds like ARKB and FBTC. Ether ETFs also showed resilience, marking their third day of gains with $64 million in net inflows.
📊 On Monday, April 28, investor confidence in crypto exchange-traded funds (ETFs) remained strong. Bitcoin ETFs reported a net inflow of $591 million, continuing their positive streak. The day was dominated by Blackrock’s IBIT, which saw an impressive inflow of $970.93 million. This influx helped offset significant outflows from other funds, including Ark 21Shares’ ARKB (down $226.30 million), Fidelity’s FBTC (down $86.87 million), and Grayscale’s GBTC (down $42.66 million).
📈 Despite these withdrawals, the overall sentiment remained bullish. Bitcoin ETF trading volume reached $2.42 billion for the day, with net assets climbing to $109.30 billion.
🌿 Ether ETFs also maintained their momentum, recording their third consecutive day of inflows with an addition of $64.12 million. The only source of inflow was Blackrock’s ETHA, which attracted $67.47 million. However, Bitwise’s ETHW slightly reduced these gains with an outflow of $3.35 million.
📉 Trading volume for ether ETFs stood at $266.32 million with net assets rising to $6.20 billion. This positive trend indicates that ETH products are gaining traction. Both bitcoin and ether ETFs are entering the week with strong support, highlighting a robust and expanding institutional appetite for crypto.
