Bitcoin ETF

Bitcoin

April

Bitwise crypto index fund manager is the only Bitcoin ETF with recent inflows, while others saw no new investments or withdrawals. In a market where BlackRock, Fidelity, and Grayscale saw no new money, Bitwise's Bitcoin ETF (BITB) garnered $12 million on May 8.   
After regulatory clearance in January, Bitcoin ETFs saw over $11.77 billion in inflows, but interest has since dropped. Notably, BlackRock's ETF was among the top five inflows at $3.1 billion.   
JMP Securities analysts predicted $220 billion in inflows that could quadruple Bitcoin's price to $288,000. However, market growth prospects have dimmed.   
On April 24, BlackRock's IBIT saw no inflows after a 71-day run. The downturn started in March. According to market expert Rachael Lucas, days without inflows are normal and reflect market and geopolitical situations.   
After becoming a spot Bitcoin ETF, Grayscale's GBTC has suffered considerable withdrawals due to hefty costs. After years of deficits, it received $4 million lately. Grayscale's Bitcoin holdings have dropped from 619,220 to 292,217, worth $18.4 billion.   
Despite increases by Fidelity's Bitcoin ETF and others, Bitcoin ETFs face obstacles. These ETFs must negotiate market changes and regulatory difficulties while maintaining investor trust.   
Last week, Bitwise’s Chief Investment Officer, Matt Hougan, <a href="https://optimisus.com/news/crypto-news/bitwise-cio-sees-bitcoin-volatility-halving-as-institutional-investments-surge/">forecasted a 50% reduction</a> in&nbsp;<a href="https://optimisus.com/news/crypto-news/post-halving-bitcoin-fees-soar-driving-users-to-seek-cheaper-alternatives/">Bitcoin’s volatility</a>&nbsp;as a result of institutional participation.   
Hougan emphasized his $250,000 Bitcoin price projection in a simple investment report for the upcoming years. 
The post <a href="https://optimisus.com/market/market-news/bitwise-stands-alone-with-a-12m-inflow-as-other-bitcoin-etfs-face-stagnant-investments/">Bitwise stands alone with a $12M inflow as other Bitcoin ETFs face stagnant investments</a> appeared first on <a href="https://optimisus.com">Optimisus</a>.

Bitwise stands alone with a $12M inflow as other Bitcoin ETFs face stagnant investments

Optimisus

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