According to SoSo Value, funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT). This is the second day in a row that the BlackRock fund has not recorded an inflow of capital.
However, since the beginning of March 2024, capital inflows into the fund have declined. Bitwise CEO Hunter Horsley says many institutional players in the market are still secretly preparing for large infusions of funds into crypto-based instruments.
Horsley is convinced that spreading a new class of digital assets will help the crypto market become even more attractive to investors. Over the past week, $206 million was withdrawn from crypto products for large professional investors, CoinShares analysts have noted.