The spot Bitcoin ETF sector is currently experiencing a capital outflow of $217 million on April 25, according to SoSo Value. Funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT), marking the second consecutive day of no capital inflow for the BlackRock fund.

In addition to the Grayscale Bitcoin Trust ETF (GBTC), outflows were recorded in four other ETFs, including those from Fidelity Investments and ARK Invest/21Shares.

Despite the recent trend, IBIT has been among the top 10 ETFs with a long history of continuous capital inflows. However, since the beginning of March 2024, capital inflows into the fund have declined.

The average volume of capital inflows into spot Bitcoin ETFs has also decreased significantly in recent weeks. Bitwise CEO Hunter Horsley believes that many institutional players in the market are quietly preparing for substantial fund inflows into crypto-based instruments. Horsley is confident that the introduction of a new class of digital assets will further enhance the attractiveness of the crypto market to investors.

By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF. They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only.
— Hunter Horsley (@HHorsley) April 20, 2024

Recently, investor interest in cryptocurrency-based products has weakened. CoinShares analysts have observed that over the past week, $206 million was withdrawn from crypto products designed for large professional investors.

Stay updated with the latest news on Global Crypto News for more insights into the cryptocurrency market and investment opportunities.

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