Bitcoin (BTC) News: BlackRock’s IBIT Records Zero Flows as North Korean Hackers Pose Threat
Bitcoin (BTC) News: BlackRock's IBIT Struggles with Zero Flows
On Tuesday, BlackRock's iShares Bitcoin ETF recorded another day of zero inflows, while US spot Bitcoin (BTC) ETFs continued their streak of negative flows. Simultaneously, US authorities issued a warning about an imminent threat from North Korean hackers targeting crypto firms, particularly those involved in the rapidly expanding Bitcoin ETF market.
BlackRock's Record of Zero Flows
According to Farside Investors, BlackRock's spot Bitcoin ETF has documented no inflows since August 27, except for August 29, when it saw $13.5 million in outflows. Despite this, the ETF’s cumulative net inflows since its launch on January 11 are nearing $21 billion.
Market Impact of Bitcoin ETFs
- On Tuesday, twelve spot Bitcoin ETFs recorded net outflows totaling $287.78 million, the largest since May 1.
- Fidelity led the outflows with $162.3 million, followed by Grayscale with $50.4 million.
- Total trading volume remains stagnant at $1.56 billion on Tuesday, slightly above Friday's $1.54 billion.
Moreover, Ethereum ETFs also faced setbacks, experiencing up to $47.4 million in negative flows on Tuesday, marking the most significant daily negative flows since August 2. Nevertheless, ETF analyst Eric Balchunas remains optimistic, indicating there is light at the end of the tunnel for Bitcoin ETF investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.