Bitcoin (BTC) News Today: Halving Looms as Spot ETF Flows Reflect Investor Caution

• Grayscale Bitcoin Trust (GBTC) saw net outflows of $110.1 million (April 15), down from $166.2 million (April 12).
• iShares Bitcoin Trust (IBIT) saw net inflows fall from $111.1 million to $73.4 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) and the rest of the BTC-spot ETF market had zero net flows.
• Significantly, FBTC saw zero net flows for the second successive session.
• The BTC-spot ETF market saw net outflows of $36.7 million (April 15), down from $55.1 million (April 12).

Geopolitical tensions in the Middle East, falling bets on a 2024 Fed rate cut, and the looming Bitcoin halving likely impacted flows.

On Tuesday, Fed Chair Powell warned of a higher-for-longer Fed interest rate path to allow the Fed to gain confidence inflation was moving to target. Subdued BTC-spot ETF market flow data also tested buyer demand for BTC. Nevertheless, hopes for tougher sanctions on Iran over an Israeli retaliation were positive for riskier assets.

However, BTC-spot ETF market flow data for April 16 remained lackluster despite updates from the Middle East.

BTC-Spot ETF Market Faces Net Outflows for a Third Session

Flow data for April 16 suggested a third successive day of net outflows. An extended period of net outflows could impact buyer demand for BTC. According to Farside Investors,

• GBTC saw net outflows of $79.4 million.
• ARK 21Shares Bitcoin ETF saw net outflows of $12.9 million.
• FBTC saw net inflows of $1.4 million.

Excluding IBIT and Valkyrie Bitcoin Fund (BRRR) flow data, the BTC-spot ETF market saw net outflows of $85.5 million.

IBIT inflow numbers have limited the impact of BTC-spot ETF market flow data on BTC.