In a noteworthy development for the Bitcoin (BTC) market, BlackRock’s Bitcoin ETF, under the ticker name IBIT, has experienced a significant shift in trading dynamics.
After an impressive streak of 71 consecutive days of inflows, IBIT recorded zero inflows during Wednesday’s trading session, marking the first time in nearly three months.
Turning Point For BlackRock’s Bitcoin ETF?
IBIT had emerged as a frontrunner in the race among Bitcoin ETFs, securing the top spot in inflows and trading volume. However, this recent halt in inflows signals a potential turning point for the fund, albeit falling just short of claiming the record for consecutive inflow days.
Eric Balchunas, an ETF expert at Bloomberg, highlighted the significance of IBIT’s 71-day streak of inflows, noting that it is close to a record and underscoring its formidable performance since its launch.
By comparison, Balchunas points out that even the popular gold ETF, GLD, experienced an impressive th
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