Spot Bitcoin ETFs See Influx of Over $1 Billion in Nine Consecutive Days
New statistics reveal that BTC spot market exchange-traded funds (ETFs) have experienced nine consecutive days of inflows, amounting to more than $1.75 billion. The data, sourced from London-based Farside Investors, shows positive inflows since May 14th with significant increases on some days.
- May 15th and May 21st recorded the highest inflows, with $303 million and $305.7 million, respectively.
- Interestingly, the Grayscale Bitcoin Trust (GBTC) was the only BTC ETF with outflows during this period, witnessing $50.9 million on May 14th, and $16.1 million and $13.7 million on May 22nd and 23rd.
Significant Inflows and BTC ETF Performance
On May 21st, the iShares Bitcoin Trust (IBIT) saw a remarkable $290 million inflow, indicating investor interest. Spot market BTC ETFs are now SEC-approved, enabling wider consumer access to the crypto asset without direct purchases.
- Earlier in the month, top US hedge funds collectively amassed over $2.6 billion in BTC ETFs, illustrating growing institutional interest.
- Despite market fluctuations, Bitcoin is currently priced at $68,122, showing slight growth in the last 24 hours.
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Hot Take: Spot Bitcoin ETFs Surge Amidst Institutional Interest
As spot market BTC ETFs witness substantial inflows over consecutive days, the cryptocurrency sector experiences a surge in institutional investment. The growing confidence in ETF products among top US hedge funds underscores Bitcoin’s evolving role in institutional portfolios.
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