Bitcoin ETFs experienced a net inflow of $203 million on Friday, April 6, marking the fourth consecutive day of positive trends. Grayscale’s ETF, GBTC, however, saw a net asset decrease of $198 million on the same day, leading to total net withdrawals of $15.51 billion. On the other hand, BlackRock’s iShares Bitcoin Trust, trading under IBIT, recorded a single-day inflow of $308 million, bringing its total inflows to $14.77 billion.

Bitcoin ETFs encountered a net outflow of $85.8 million on Monday, April 1, which resulted in a drop in BTC price to $65,000 and triggered broader market liquidations. However, the recent four-day streak of inflows helped Bitcoin recover above $67,000. Since the SEC approved Bitcoin ETFs in January, institutional investments have significantly influenced BTC’s market movements.

Despite recent price corrections, industry experts like SkyBridge’s Anthony Scaramucci anticipate a larger rally for Bitcoin after its halving later this month. Bitcoin Cash (BCH), a Bitcoin fork, surged over 10% immediately after its halving last week. Market analysts expect a similar impact on the BTC market, as historical data suggests an average 3,230% increase after each of the last three halvings.

Post Views: 3