United

Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>US spot Bitcoin ETFs experienced a net inflow of $116.8 million last week, following four weeks of outflows.</li>
 <li>Global crypto investment products also saw net inflows of $130 million for the first time in five weeks.</li>
</ul>
<p>After four consecutive weeks of outflows, spot Bitcoin exchange-traded funds (ETFs) in the United States saw a net inflow of $116.8 million last week. This comes after more than $1 billion was withdrawn during the previous period.</p>
<h2 id="details-on-specific-etfs">Details on Specific ETFs</h2>
<p>The only spot Bitcoin ETF to register net outflows last week was Grayscale’s Bitcoin Trust, with $171.1 million leaving the fund. This happened despite the fund breaking its 78-day outflow streak with $63 million worth of net inflows on May 3 and an additional $3.9 million on the following Monday.</p>
<p>Fidelity’s FBTC dominated last week’s net inflows, adding $111.3 million. It was followed by Ark Invest’s ARKB, which generated $82.8 million worth of net inflows.</p>
<p>BlackRock’s previously dominant spot Bitcoin ETF, IBIT, has been more subdued recently. It registered its first net daily outflows on May 1 and came in third last week with $48.1 million in net inflows.</p>
<p>The total net inflows for all the ETFs combined currently stand at $11.7 billion.</p>
<h2 id="overall-market-flows">Overall Market Flows</h2>
<p>The overall flows for the spot Bitcoin ETFs have significantly slowed since reaching a net daily inflow peak of $1.05 billion on March 12. Following this, Bitcoin dropped 23% from its latest all-time high of $73,836 on March 14 to a low of $56,500 on May 1 before recovering.</p>
<p>The global crypto investment product market also saw net inflows totaling $130 million for the first time in five weeks. This includes the U.S. spot Bitcoin ETF net flows.</p>
<p>Despite the reversal in flows, the trading volume for the U.S. spot Bitcoin ETFs declined to $7.4 billion last week, down from $11 billion in the previous week. The global crypto exchange-traded product market also fell to $8 billion last week compared to a $17 billion April weekly average.</p>
<p>The spot Bitcoin ETF hype seems to have died down, with April’s net monthly outflows reaching $343.5 million. This ended their three-month inflow streak and continued into May. While last week’s net inflows are encouraging, it remains to be seen whether this indicates a long-term trend reversal for the U.S. spot Bitcoin ETF category.</p>
<p>In contrast, ether-based investment products saw net outflows last week amid declining sentiment on the prospect of spot ether ETF approvals in the U.S. anytime soon.</p>

Bitcoin ETFs in the US Rebound with Net Inflows After a Month-long Slump

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