Bitcoin

April

Grayscale Bitcoin Trust

Spot

Spot Bitcoin ETFs offset April losses in the first two weeks of May. 
Eric Balchunas, Senior ETF Analyst for <a href="https://crypto.news/tag/Bloomberg/" target="_blank" rel="">Bloomberg</a>, noted that <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> ETFs have already seen $1.3 billion in inflows in May, offsetting all of the negative inflows in April for a total inflow of $12.3 billion since launch. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch. This key number IMO bc it nets out inflows and outflows (which are normal) <a href="https://t.co/tdnZOKEocM" target="_blank" rel="">pic.twitter.com/tdnZOKEocM</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1791443740822745158?ref_src=twsrc%5Etfw" target="_blank" rel="">May 17, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The analyst urged investors not to worry about changes in capital inflows and outflows since this is part of ETFs’ natural cycle. Balchunas believes that spot Bitcoin ETFs will still generate positive long-term returns. 
 You might also like: <a href="https://crypto.news/fidelity-leads-as-spot-btc-etfs-start-the-week-with-positive-flows/" rel=""> Fidelity leads as spot BTC ETFs start the week with positive flows </a> 
CryptoQuant <a href="https://cryptoquant.com/community/dashboard/664743a3f3cac64b853d769a?utm_source=telegram&amp;utm_medium=sns&amp;utm_campaign=dashboard&amp;utm_content=crypto-weekly-report" target="_blank" rel="">notes</a> that the restoration of dynamics is also combined with the restoration of demand for Bitcoin. The growth of Bitcoin’s balance with regular holders and large investors is again accelerating, signaling increased demand for Bitcoin from these market participants. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14273377"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/05/Screenshot-2024-05-17-at-18.30.50-1024x634.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="634" src="https://crypto.news/app/uploads/2024/05/Screenshot-2024-05-17-at-18.30.50-1024x634.png" alt="Bitcoin ETFs compensate April outflows, analyst predicts long-term returns - 22"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Source: <a href="https://cryptoquant.com/community/dashboard/664743a3f3cac64b853d769a?utm_source=telegram&amp;utm_medium=sns&amp;utm_campaign=dashboard&amp;utm_content=crypto-weekly-report" target="_blank" rel="">CryptoQuant</a>
 </figcaption>
</figure> 
Over the past week, capital inflows into spot Bitcoin ETFs have recovered from the April drawdown. According to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="">SoSo Value</a>, the funds recorded $257.34 million in inflows on May 16. 
The leader in the volume of funds raised was iShares Bitcoin Trust (IBIT) from <a href="https://crypto.news/tag/BlackRock/" rel="">BlackRock</a>, which received $94 million in inflows. The fund’s capital under management reached $18 billion, slightly lower than that of the Grayscale Bitcoin Trust ETF (<a href="https://crypto.news/tag/GBTC/" target="_blank" rel="">GBTC</a>). 
GBTC had a net daily inflow of $5 million on May 16, the third trading day the product closed in the green since its conversion from a trust to a spot ETF. 
 You might also like: <a href="https://crypto.news/spot-bitcoin-etf-investments-institutions/" rel=""> K33 Research: Over 900 institutions invested $11b in spot Bitcoin ETFs </a>

Bitcoin ETFs compensate April outflows, analyst predicts long-term returns

crypto.news

Other articles published on May 17, 2024

Bitcoin Exchange OKX Announced That It Invested in This Project in the Scroll Ecosystem! Here are...

Morgan Stanley Bets BIg on Crypto with $270 Million GBTC Stake

Animoca Brands Leads $7 Million Funding Round for UAE-Based Param Labs

Most Reputable Online Casinos

Coinbase Dominates the US Crypto Market

Experts Identify High-Potential Altcoins for the Next Bull Run

Join our free newsletter for daily crypto updates!