US Bitcoin Spot ETFs See Longest Inflow Streak Since February

The local U.S. Bitcoin exchange-traded fund (ETF) market has been on a long inflow streak, last seen in February.

According to data from Farside Investors, spot Bitcoin ETFs have been on a 13-day inflow streak since May 13, 2024. This indicates investor confidence in Bitcoin’s potential and unwavering capital inflow into the ecosystem despite BTC’s inability to register a new whole. – high weather

Longest hitting streak since February

After the launch of domestic Bitcoin ETFs in the United States on January 11, the funds collectively experienced outflows exceeding $52 million two trading days after their listing, as investors pulled the your Grayscale GBTC assets in bulk. While the fledgling nine ETFs saw little or no inflows during the first ten days of their existence, GBTC’s outflows exceeded its inflow streak.

However, the tide turned in late January as inflows from newborns eclipsed outflows from GBTC. That trend extended into mid-February, resulting in a 17-day inflow streak that piled billions into ETFs.

Although February’s inflow streak was broken, ETFs saw more inflows than outflows until BTC reached its all-time high of $73,700 in mid-March. Investors started taking profits after that and inflows slowed down a bit.

April had a negative vibe as the month saw more outflows than inflows for ETFs. This coincided with a decline in the broader crypto market as investors continued to take their profits. The negative trend extended into May, as on the first day of the month all local US Bitcoin ETFs witnessed collective outflows of $563 million.

A 13-day entry streak

Since the May 1 ETF bloodbath, the investment vehicles saw four more days of outflows through May 13. The local US Bitcoin ETF market has been on a 13-day inflow streak since then, despite individual funds posting occasional outflows.

Yesterday, Ark Invest’s ARKB saw outflows of about $100 million, but inflows into the rest of the funds outpaced it, netting $48.8 million.

So far, May has been a good month for the local Bitcoin ETF market. Three days ago, BlackRock’s IBIT became the world’s leading ETF by assets under management, overtaking GBTC. Also, the global Bitcoin ETF market at the moment is now over a million BTC.

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