Overall, spot bitcoin ETF volumes have steadied throughout April after a steady decline from their early March peak.
BlackRock spot Bitcoin ETF is set to overtake Grayscale's GBTC in assets by month-end.
The initial euphoria for the spot bitcoin ETFs has seemingly dampened and reality is slowly kicking in with inflows recently unable to keep up with the still speedy pace of exits from Grayscale's Bitcoin Trust (GBTC).
Despite the active on-chain accumulation, demand for Bitcoin exchange-traded funds (ETFs) in the United States appears to have stagnated over the past four weeks, according to Ki Young Ju, the founder of CryptoQuant, an on-chain analytics platform. This assessment, the founder notes, is even when excluding ETF settlement transactions.
Spot Bitcoin exchange-traded funds are seeing inflows dwindle as the underlying asset continues to correct.
The iShares Bitcoin Trust (IBIT) has seen two-day inflows reach $184.5 million — and is also the only U.S. spot Bitcoin ETF to see inflows so far this week.
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