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The 71-Day Inflow Boom Ends for BlackRock’s Bitcoin ETF Giant
For 71 days in a row, BlackRock Inc.’s Bitcoin fund enjoyed a remarkable run, amassing almost $18 billion in one of the biggest exchange-traded fund launches ever. Now, investors have stopped piling in as the crypto fever eases. Daily inflows into the ETF, ticker IBIT, dropped to effectively zero on Wednesday, data compiled by Bloomberg show. So far in April, IBIT has taken in a net $1.5 billion. IBIT’s milestone adds to signs of crypto-market fatigue after the ETF-induced mania propelled Bitcoin to a record high of almost $74,000 in March. The original cryptocurrency is down nearly 15% since then, and the ... (full story)