Panic at BlackRock? New director appointed for Spot Bitcoin ETF

BlackRock’s Spot Bitcoin ETF got off to a great start with 71 consecutive days of capital inflows. That streak came to an abrupt end last week with three consecutive days of zero flows. Could there be panic at BlackRock?

Last week it was suddenly announced that the fund will have a new director from November.

How is it possible?!

Rajat Soni, a financial advisor who shares his views on Twitter, can’t believe what happened to BlackRock’s Spot Bitcoin ETF over the past three trading days.

“Are Bitcoin ETF Figures Manipulated? How is it possible that there were 0 inflows and outflows from the BlackRock ETF for three consecutive days (April 24, 25, and 26)?

Is it possible that BlackRock won’t sell its holdings if customers do? What does that mean for the future? If BlackRock doesn’t sell, we may never see deep bear markets again,” said Rajat Soni.

The truth is that there are probably small inflows or outflows, but they do not reach the “unit value”. Inflows or outflows must have a minimum value to induce BlackRock to sell or buy Bitcoin for the fund.

So there is certainly no question of manipulation.

Big week for Bitcoin

All in all, we can say that an important week is planned for the Bitcoin price. The US central bank will meet on Wednesday to make a new interest rate decision.

While it is certain that they will leave interest rates unchanged, we will probably hear their views on the health of the economy.

They are increasingly encountering problems there. Inflation in the United States is rising rapidly, while the economy in Q1 2024 also performed a lot less well than expected.

Should America prepare for a period of stagflation (rising inflation, shrinking economy)? That could just be possible. In that respect, it will be very interesting to follow the US central bank on Wednesday.

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