đ€Bitcoin Halving Sparks ETFs In-flows After Days of Declineđ
Before the recent Bitcoin halving, U.S. exchange-traded funds (ETFs) saw a turnaround in fortunes. After five days of outflows, the market suddenly saw a surge of investments.
With expectations of Bitcoin's value rising after the halving, global investment strategies advised adding Bitcoin to portfolios. The ETF market followed suit, ending a week-long streak of outflows since April 12.
Data from Farside shows that between April 12 and 18, U.S. Bitcoin ETFs experienced consecutive outflows, mainly due to reduced contributions from key players like the Grayscale Bitcoin Trust ETF (GBTC). The trend started in January when the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs.
However, on April 19, five out of the 10 approved ETFs saw positive inflows, outweighing the GBTC outflows and bringing in a total of $30.4 million.
Despite GBTC and Fidelity Wise Origin Bitcoin Fund (FBTC) experiencing outflows totaling $47.6 million, FBTC itself brought in $54.8 million just before the halving.
Other contributors to the inflows include Bitwise Bitcoin ETF (BITB) with $4.9 million, ARK 21Shares Bitcoin ETF (ARKB) with $12.5 million, Invesco Galaxy Bitcoin ETF (BTCO) with $3.9 million, and Franklin Bitcoin ETF (EZBC) with $1.9 million.
In the previous Bitcoin halving in May 2020, the asset's market value was around $8,500. But the subsequent reduction in BTC issuance led to a surge, driving its value to roughly $65,000 in four years, as per data from Cointelegraph Markets Pro and TradingView.
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