Ark Invest's ARKB has somehow managed to surpass GBTC in daily outflows
This comes as the price of Bitcoin is struggling to regain momentum. Earlier today, it crashed to as low as $64,673, according to CoinGecko data. , Bitcoin ETFs managed to trade an eye-popping $111 billion in March. However, they are unlikely to match this volume in April due to waning demand. That said, it is worth mentioning that Bitcoin ETFs still experienced $38.8 million in net inflows on Apr. 2. BlackRock's IBIT, of course, accounts for the majority of inflows.
As noted by trading firm Arbelos Markets, bots are capable of placing orders based on scraped ETF data. Hence, this could have a significant influence on the market. The fact that Bitcoin's performance was particularly strong in early March when inflows were strong supports this theory. At the same time, leading analyst Eric Balchunas recently dismissed the impact of Bitcoin ETFs on the price of the largest cryptocurrency, arguing that there are bigger forces in play. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale CLO believes spot ether ETFs 'should be approved'Craig Salm believes a highly anticipated spot ether ETF 'should be approved,' citing bitcoin ETF similarities.
Read more »
Bitcoin & Bitcoin Cash Among Top Crypto Gainers as Crypto Prices Pump: What About Green Bitcoin?Crypto Blog
Read more »
Spot Ethereum ETF approval has 'no positive signs,' says ETF expertBloomberg Senior ETF Analyst Eric Balchunas believes that the odds of an ether ETF garnering approval are 'a very pessimistic 25%.'
Read more »
Bitwise files with SEC for spot Ether ETF listingAlready listing shares from an approved spot Bitcoin ETF and Ether futures ETF, Bitwise applied with the SEC for a spot Ether ETF on NYSE Arca.
Read more »
Bitcoin ETFs see $15M comeback as BTC price taps best close in 10 daysBTC price races past $71,000 as Bitcoin ETF inflows set a new bullish tone.
Read more »
Bitcoin pro traders were unmoved by BTC’s sell-off, data points to new price highsData suggests Bitcoin does not need soaring spot BTC ETF inflows to rally higher.
Read more »