Nine-day inflow streak ends as U.S. spot Bitcoin ETFs see $263M outflow

U.S. spot Bitcoin exchange-traded funds swung to a $263.2 million net outflow on April 27, ending a nine-day inflow streak. (theblock.co) (cointelegraph.com) The biggest redemption came from Fidelity Wise Origin Bitcoin Fund, or FBTC, which lost about $150 million in one day. Grayscale Bitcoin Trust, or GBTC, lost about $47 million, and ARK 21Shares Bitcoin ETF, or ARKB, lost about $43 million. (cointelegraph.com) (news.bitcoin.com) BlackRock’s iShares Bitcoin Trust, or IBIT, and Morgan Stanley’s MSBT were roughly flat on the day, which kept the outflow concentrated in a few funds rather than spread across the whole group. (cointelegraph.com) A spot Bitcoin ETF holds Bitcoin directly and lets investors buy fund shares on a stock exchange instead of handling wallets, keys, or crypto exchanges themselves. Daily “flows” track whether money is entering or leaving those funds through creations and redemptions. (cointelegraph.com) The break came after nine straight sessions of net inflows that pulled roughly $2.1 billion into U.S. spot Bitcoin ETFs since April 13. During that stretch, Bitcoin climbed about 10% and briefly pushed toward $80,000 before fading. (cointelegraph.com) (coinmarketcap.com) By April 28, Bitcoin had slipped back below $77,000 as traders headed into a week dominated by the Federal Open Market Committee meeting, inflation worries, gross domestic product data, and major earnings reports. (theblock.co) Analysts told The Block that the market still had bullish support, but trading had turned more tactical as macroeconomic and geopolitical risks piled up. That leaves ETF flows acting less like a one-way demand signal and more like a day-to-day sentiment gauge. (theblock.co) Even with the one-day reversal, institutional buying in April remained large relative to new Bitcoin supply. Cointelegraph, citing HODL15Capital data, said Strategy bought 56,235 Bitcoin in April while global ETFs added another 34,552 Bitcoin, versus an estimated 11,829 newly mined coins. (cointelegraph.com) The outflow did not erase the month’s inflow run, but it ended the clean streak and showed how quickly demand can turn when Bitcoin fails to hold a key price level. (cointelegraph.com) (theblock.co)