The iShares Bitcoin Trust ETF has achieved a significant fund inflow.
Significant outflows were also experienced in other BTC ETF products. As interest in futures begins to rise, the basis trade ratio is also strengthening.
The iShares Bitcoin Trust ETF, which became operational in January 2024, recently attracted attention with a net fund inflow of $970.9 million. This marks the second-highest fund inflow recorded since the product's launch. Unlike other similar products, the iShares Bitcoin Trust ETF has managed to gain positive momentum in the ETF sector. On Monday, a new capital inflow of $591.2 million occurred, while significant outflows were reported from competing products. Fidelity's FBTC product reported a fund outflow of $86.9 million, Bitwise's BITB product reported $21.1 million, and ARK's ARKB product reported a fund outflow of $226.3 million. Bitcoin started trading at approximately $94,900 with a 7.2% increase in the last seven days.
Additionally, since April 22, the iShares Bitcoin Trust ETF has provided more than $4.5 billion in net fund inflows, challenging market trends. Investors' shift towards this product and away from other alternatives prepares the ground for the implementation of new strategies in the market.
Expert Opinions: "Almost $1 billion flowed into the iShares Bitcoin ETF. This is the second-highest inflow since January 2024." – Nate Geraci
"The ETF market takes a step back and then two steps forward; the model we predicted is happening." – Eric Balchunas
Following these announcements, industry experts see the increase in investor interest as a positive development. Investors' interest in this product indicates a reshaping of capital flows in the market.
In the futures market, the number of open positions in CME Bitcoin Futures contracts has decreased for four consecutive days, falling to 132,750 Bitcoin. However, a year-on-year increase in returns from 5% to 9% in April strengthens expectations that there may be a recovery in open positions in the short term. The recovery in the basis trade ratio is seen as an indicator of increasing demand.
In the general assessment, investors in Bitcoin buying-selling strategies in the spot market prefer futures to lock in the gap. The increase in returns indicates that these strategies may regain popularity. Market data and expert comments reveal that the current trend indicates vitality in capital flows and changes in strategy.
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