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BlackRock’s IBIT nears $1 billion inflow as CME futures cool

BlackRock’s IBIT nears $1 billion inflow as CME futures cool

GrafaGrafa2025/04/30 06:20
By:Mahathir Bayena

BlackRock’s iShares Bitcoin Trust (IBIT) recorded $970.9 million in net inflows on Monday, its second-largest daily inflow since launching in January 2024, according to Farside data.

Since April 22, IBIT has attracted more than $4.5 billion in net inflows, bucking the recent market trend that saw competitors like Fidelity’s FBTC, Bitwise’s BITB, and ARK’s ARKB all experience significant outflows.

“Nearly $1 billion into iShares Bitcoin ETF today... Second-largest inflow since January 2024 inception. I still remember when there was ‘no demand’,” commented Nate Geraci, president of The ETF Store.

“ETFs are in two-steps-forward mode after taking one step back, exactly the pattern we predicted,” added senior Bloomberg ETF analyst Eric Balchunas.

While spot ETF inflows surge, CME Bitcoin Futures open interest has declined for four consecutive days, now sitting at 132,750 BTC, according to CME data.

This drop in open interest coincides with a rise in the annualised basis yield, which has climbed from about 5% to 9% in April, according to Velo data.

A high basis yield typically draws traders back to the futures market, as it increases the profitability of basis trades-where investors buy spot Bitcoin (CRYPTO:BTC) and short futures to capture the price gap.

The current decline in open interest suggests reduced leverage, but with yields rising, renewed activity and a short-term rebound in open interest could follow.

At the time of reporting, the Bitcoin price was $94,707.32.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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