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$2,637.93 1.44484
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BNB
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$174.37 -0.50529
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Shiba Inu
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$108,969.00 -0.45883
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Ethereum
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BNB
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Solana
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$174.37 -0.50529
Solana price
XRP
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Shiba Inu
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$0.0000143 -1.3724
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Pepe
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Bonk
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dogwifhat
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Popcat
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Bitcoin
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$108,969.00 -0.45883
Bitcoin price
Ethereum
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$2,637.93 1.44484
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BNB
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$682.18 0.30599
BNB price
Solana
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$174.37 -0.50529
Solana price
XRP
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$2.29 -0.28552
XRP price
Shiba Inu
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$0.0000143 -1.3724
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000138 -1.39844
Pepe price
Bonk
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$0.0000203 -0.68383
Bonk price
dogwifhat
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$1.09 -2.29442
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Popcat
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$0.462813 -2.47813
Popcat price

Bitcoin ETFs net $203m daily inflows, anticipation builds for halving

Anthony Patrick
Edited by
News
Bitcoin ETFs net $203m daily inflows, anticipation builds for halving

Spot Bitcoin ETFs, or exchange-traded funds, witnessed a net inflow of $203 million on Friday, April 6, continuing a trend for the fourth straight day.

According to SoSoValue, Grayscale’s ETF, GBTC, saw its net assets decrease by $198 million on the same day, pushing its total net withdrawals to $15.51 billion.

Meanwhile, BlackRock’s iShares Bitcoin Trust, which trades under the ticker IBIT, led the market with a single-day inflow of $308 million, raising its total inflows to $14.77 billion.

Bitcoin ETFs saw a net outflow of $85.8 million on Monday, April 1 — the only net outflow in the past ten days of trading. Consequently, BTC price dropped to $65,000, triggering broader liquidations across the market. 

Bitcoin ETFs inflow
Bitcoin ETF net inflow | Source: SoSo Value

However, the four consecutive days of inflows have helped Bitcoin recover over $67,000.

Institutional investments have played a significant role in BTC’s market movements since the SEC approved Bitcoin ETFs in January. 

Despite the recent price corrections, close observers (i.e., SkyBridge’s Anthony Scaramucci) predict a larger rally for the premier cryptocurrency following its halving later this month. See below.

Bitcoin Cash (BCH), a fork of Bitcoin, rallied over 10% immediately after its halving last week.

The market is anticipating a similar impact on the BTC market, as recent reports showed that the token increased by an average of 3,230% after each of the last three halving.