Bitwise’s spot bitcoin ETF registered its first net outflows on Wednesday as total net outflows continued for a fourth consecutive day.
Bitwise’s BITB spot bitcoin exchange-traded fund witnessed daily net outflows of $7.3 million on Wednesday for the first time since trading began on Jan. 11.
Overall flows for the spot bitcoin ETFs have slowed significantly since peaking at a net daily inflow of $1.05 billion on March 12, with bitcoin subsequently dropping 17% from its latest all-time high of $73,836, according to The Block’s data dashboard. Bitcoin is currently trading for $61,424 — down 3% in the last 24 hours and 14% over the past week, according to The Block’s price page — with its fourth halving rapidly approaching.Bitcoin’s next halving event is now less than two days or 250 blocks away, according to The Block’s Bitcoin Halving Countdown page — setting a potential date of April 20 at around 3 a.m. UTC , as things stand.
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