BlackRock successfully absorbs selling pressure in the Bitcoin ETF market.
Recent data on spot Bitcoin ETFs indicates a significant shift toward net asset accumulation, supporting the current market price structure. However, this trend is not considered uniform across all funds. The main driver of growth is BlackRock, whose consistently large inflows offset selling pressure from several individual issuers.
The bulk of buying is being recorded in the iShares Bitcoin Trust (IBIT), owned by BlackRock. This fund consistently demonstrates large positive flows, reflecting robust institutional demand. The product has effectively become a key market “shock absorber,” absorbing liquidity dissipated by sellers and thereby reducing the risk of short-term corrections.
In contrast, individual funds are experiencing significant outflows. In particular, Invesco's product recently saw a record one-day outflow, which has injected significant Bitcoin supply into the market. This trend is exacerbated by ongoing, albeit slowing, daily selling by the Grayscale Bitcoin Trust (GBTC), which is putting pressure on the overall flow balance.
Other major players, including Fidelity (FBTC), are exhibiting more neutral dynamics, alternating inflows and outflows. Analysts believe this is more due to internal portfolio rebalancing than targeted profit-taking or widespread selling.
Experts note that the current market stability is largely based on a balance between the strong capital influx into BlackRock ETFs and localized sell-offs by Invesco and Grayscale. While IBIT purchase volumes remain stable, the demand structure maintains positive momentum.
However, analysts warn that any pause or reduction in inflows into the iShares ETF could quickly upset the equilibrium. If selling by other issuers continues, the pressure on buyers will intensify, potentially leading to a short-term decline in prices and increased volatility.
Source: cryptonews.net
