Over the last four trading days, the fund has maintained the same 274,462 BTC holdings.
Investors were worried when BlackRock’s IBIT ended its 71-day inflow streak on April 24.
The crypto community is becoming more worried as inflows to BlackRock’s spot Bitcoin ETF have paused for many days in a row, marking the first such occurrence since the fund’s introduction. In the US, the iShares Bitcoin Trust (IBIT) of BlackRock, which is the fastest-growing spot Bitcoin ETF, has not had any inflows since April 24.
Over the last four trading days, the fund has maintained the same 274,462 BTC holdings, according to statistics from IBIT’s official website.
Major Setback
Investors were worried when BlackRock’s IBIT ended its 71-day inflow streak on April 24; the fund had been steadily adding new investors every day. With an initial investment of 2,621 BTC on January 11th, IBIT has grown its holdings by a staggering 10,378%.
There are crypto watchers who are worried about the impact of IBIT’s influx suspension, arguing that it’s bad news for investors. According to other industry advocates, BlackRock’s 71-day inflow record was far more impressive than the previous four days when no inflows occurred.
Other exchange-traded fund (ETF) issuers, notably market leader Grayscale Investments, are still seeing withdrawals from spot Bitcoin ETFs, which coincides with BlackRock’s zero inflow period.
Data from Hodl Capital shows that on April 20, a total of 823 BTC were removed from ten US-based spot Bitcoin ETFs. The Grayscale Bitcoin Trust ETF (GBTC) had 297,117 BTC in its holdings as of that day, which was a decrease of almost 52% from the original holdings on January 11th. At the moment, Grayscale’s GBTC has only around 8% more Bitcoin than BlackRock’s 274,462 BTC do.
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