Bitcoin News: BlackRock's iShares Bitcoin ETF Struggles Amid Market Fluctuations
Thursday, 19 September 2024, 00:38
BlackRock's Bitcoin ETF Performance in September
Despite modest price increases in Bitcoin this September, BlackRock's iShares Bitcoin Trust (IBIT) faced significant challenges with only $6.76 million in net inflows. This sluggish performance is emphasized by overall market trends, wherein other funds reported outflows during the same period.
Performance Metrics
- Inflows and Outflows: IBIT saw an inflow of $15.82 million on September 16, which was diminished by a $9.06 million outflow a week prior.
- Stagnant Days: On ten separate trading days, IBIT recorded zero net flow.
- Market Context: While Bitcoin’s value jumped nearly 5%, the ETF market experienced a collective outflow of approximately $155.30 million from all spot Bitcoin ETFs, reflecting widespread investor uncertainty.
Steady Amidst Volatility
Even with these fluctuations, IBIT has managed to maintain stable inflows amidst notable market volatility. BlackRock continues to share insights on Bitcoin investment opportunities as it navigates this turbulent period.
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.