Stop Grayscale outflows, iShares in positive strike for 71 days

By KMatt | Blogging Crypto | 25 Apr 2024

Despite slowing flows into BlackRock and Fidelity's Bitcoin funds, there are signs of optimism for the market. The outflows from the Grayscale fund have in fact stopped in the last three days, with positive flows during trading.

Grayscale and iShares, two different stories

Grayscale: its outflows seem to have finally stopped, settling at very low values compared to the $500 million in AUM lost daily in the past. Sales by bankruptcy entities have probably ended.

iShares: managed by BlackRock, recorded 71 consecutive days of inflow, positioning itself among the top 10 funds in US financial history. The flows could continue, allowing iShares to further climb the rankings.

Meanwhile, although Tesla's quarterly results have not been brilliant, the Bitcoin holdings of the group led by Elon Musck have remained intact and are today worth more than 700 million dollars. A positive signal after the liquidation of a significant part of the investment in a moment of rethinking linked to ecological issues.

In conclusion, signals from Grayscale, iShares and Tesla offer an optimistic outlook for the market. The flows, although modest, could continue to support the price of Bitcoin.


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