Bitcoin ETF momentum expected to stay strong leading up to the halving, predicts Santiment

Bitcoin exchange-traded fund (ETF) flows are expected to stay strong leading up to the Bitcoin halving event later this month, according to Santiment, an on-chain analytics firm. Despite the asset reaching an all-time high in mid-March, Bitcoin ETF volume has not slowed down. Santiment speculates that this high level of activity will continue until the halving, which occurs every four years and is estimated to happen on April 20. The top seven ETFs have seen a daily volume of $3.19 billion, and Santiment is curious to see if there will be a drop in volume after the halving. Lucas Kiely of Yield App suggests that accumulating Bitcoin through ETFs could reduce price volatility after the event. In March, spot Bitcoin ETF volumes reached $111 billion, almost tripling the previous month’s volume. ETF inflows have also increased recently, with two days in April seeing over $200 million in net inflow. However, Grayscale’s outflows have been consistent since it converted to a spot ETF in January. Despite this, industry executives like Ripple CEO Brad Garlinghouse remain optimistic about the future of the crypto market, citing spot ETFs and the Bitcoin halving as driving factors.