On Friday, the largest inflow came from BlackRock IBIT, with the ETF attracting $111 million. Conversely, the impact of Friday’s outflow has been evident in the crypto market.
Bitcoin ETFs saw three days of net outflow last week, with a total of $298.4 million in funds exiting from the market. Sonneshein recently emphasized that the withdrawals from GBTC have likely reached equilibrium.
The continuous outflows from the ETF market could also be driven by a pre-halving pullback, with the common anticipation that the Bitcoin halving generally leads to a larger bull market for the largest cryptocurrency. As a result, a pullback occurs when investors start taking profits in the short-term and tend to invest again when there is a dip.
