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Summary
Spot Bitcoin exchange-traded funds (ETFs) in the U.S experienced a rebound with inflows of about $60 million following Bitcoin’s halving event. BlackRock and Fidelity observed increased inflows as investors were optimistic about the cryptocurrency’s performance.
Introduction
According to Bloomberg and Farside Investors, spot Bitcoin ETFs saw a net inflow of $59.7 million on April 20. The price of BTC recovered prior to the halving, leading to renewed buying activity in the listed ETFs.
Main Points
Investors showed optimism with increased inflows into Fidelity Bitcoin ETF (FBTC) and iShares Bitcoin ETF (IBIT) managed by BlackRock. Notable inflows were reported in FBTC, ARKB, and BITB ETFs, while Grayscale GBTC’s outflows reduced significantly.
Conclusion
Despite ongoing tensions and modest trading volumes, the cryptocurrency market remains hopeful, especially with the positive impact of Bitcoin’s halving event. Investors anticipate continued inflows despite recent outflows in Grayscale’s BTC ETF.
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