Bitcoin ETFs Post $1.3 Billion Inflows, Rebound After April Slump

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Spot Bitcoin exchange-traded funds (ETFs) in the United States saw $1.3 billion in inflows over the past two weeks, sharing Bloomberg ETF analyst Eric Balchunas on X. That was enough to fully recover from April’s net outflows of more than $343 million.

U.S.-traded Bitcoin ETFs now hold more than $12.3 billion under management, which Balchunas considers a key number to account for inflows and outflows.

Additionally, Balchunas emphasized that these numbers make it a point not to get “emotional” about Bitcoin ETF flows, sharing his belief that net flows will prove positive in the long term and that flow amounts are relatively small compared to the total. under management.

As reported According to Crypto Briefing, professional investment firms showed great interest in Bitcoin ETFs in the first quarter, with 937 of them reporting exposure to these investment instruments in their 13F forms.

Balchunas double on this subject, pointing out that BlackRock’s IBIT recorded 414 holders in the first quarter. He adds that having 20 holders for a recently launched ETF is “very rare,” showing that at least four Bitcoin funds have easily surpassed that mark.

Number of holders of ETFs launched in January. Image: Eric Balchunas/Bloomberg Intelligence

Over the past 24 hours, nine Bitcoin ETFs in the United States added 3,743 BTC to their holdings, as reported by user X Lookonchain, which equates to over $250 million. Grayscale’s GBTC added 397 BTC, while BlackRock’s IBIT added 1,435 BTC.

Galaxy’s BTCO was the only Bitcoin ETF to show daily net outflows, with 543 BTC coming out of their chest.

Regulatory movements

Additionally, recent regulatory developments in the United States could heat up the Bitcoin ETF landscape even more. Yesterday, the Senate voted to rescind SEC Staff Accounting Bulletin No. 121 (SAB 121), which makes it more expensive for banks to hold digital assets for their customers.

However, US President Joe Biden has already come out against the bill and a presidential veto is very likely.

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