ETFs
US Bitcoin Spot ETFs See Longest Inflow Streak Since February
The U.S. spot Bitcoin exchange-traded fund (ETF) market has seen a long inflow streak, last seen in February.
According to data On Farside Investors, Bitcoin spot ETFs have seen a 13-day inflow streak since May 13, 2024. This indicates investor confidence in Bitcoin’s potential and an unwavering influx of capital into the ecosystem despite the inability of BTC to record a new all-time high. .
Longest influx streak since February
Following the launch of the Bitcoin spot ETFs in the United States on January 11, the funds collectively saw capital outflows exceeding $52 million two trading days after their listing as investors withdrew their assets from Grayscale’s GBTC en masse . While all nine new ETFs saw substantial, if any, inflows in the first ten days of their existence, GBTC’s outflows exceeded their inflow streak.
However, the tide changed in late January as the inflows of nine hatchlings eclipsed the outflows of GBTC. This trend continued through mid-February, leading to a 17-day inflow streak that saw billions poured into ETFs.
Although the February inflow streak eventually ended, ETFs saw more inflows than outflows until BTC reached its all-time high of $73,700 in mid-March. Investors then began to take profits and capital flows declined somewhat.
April had a negative vibe, as the month saw more days of outflows than inflows for ETFs. This coincided with a slowdown in the broader crypto market as investors continued to take profits. The negative trend carried over into May, as the first day of the month saw all spot Bitcoin ETFs in the United States. witness capital outflows collectively exceed $563 million.
A 13-day surge streak
Since the ETF bloodbath on May 1, investment vehicles have seen four additional days of outflows through May 13. The US spot Bitcoin ETF market has seen a 13-day inflow streak since then, although individual funds occasionally experience outflows.
Yesterday, Ark Invest’s ARKB saw outflows of around $100 million, but inflows into other funds exceeded it, reaching $48.8 million.
May has been a good month so far for the Bitcoin ETF spot market. Three days ago, BlackRock’s IBIT became the world’s largest ETF in terms of assets under management, surpassing GBTC. Additionally, the global spot Bitcoin ETF market is now is holding more than a million BTC.