Bitcoin ETF

Bitcoin

Spot

The <a href="https://coingape.com/global-bitcoin-etf-close-to-stacking-1m-btc-bullish-for-btc-price/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETF</a> market witnessed significant investor activity over the past week, marked by consistent net inflows and notable performances from major ETFs. These ETFs clocked over 15,000 BTC in inflows, which significantly outpaces a month’s worth of new BTC mined.
Also Read:&nbsp;<a href="https://coingape.com/bitcoin-etf-inflows-blackrock/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF Inflows Spike Again, BlackRocks Leads Scooping $182 Million</a>
<h2 id="spot-bitcoin-etf-weekly-inflows">Spot Bitcoin ETF Weekly Inflows</h2>
The week started strong with U.S. Spot Bitcoin ETFs registering inflows of over $241 million on Monday, May 20. Grayscale’s ETF GBTC saw an influx of $9.35 million despite the resignation of CEO Michael Sonnenshein, marking the fifth consecutive day of net inflows for GBTC. ARKB, managed by Ark Invest and 21Shares, attracted $68.28 million, while BlackRock’s IBIT saw inflows of $66.35 million.
On Tuesday, the momentum continued with Spot Bitcoin ETF flows totaling $305.7 million. Furthermore, <a href="https://coingape.com/blackrock-to-overtake-grayscale-amid-eight-days-of-bitcoin-etf-inflows/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin Trust (IBIT)</a> led the surge, recording an impressive $290 million in inflows, per Farside UK data. Fidelity’s FBTC also contributed significantly with $25.8 million. However, Grayscale’s GBTC saw no inflows on this day. Conversely, the Bitwise Bitcoin ETF (BITB) and VanEck’s HODL experienced outflows of $4.2 million and $5.9 million, respectively.
Bitcoin ETFs maintained their positive trajectory with net inflows of $154 million on Wednesday, extending the streak to eight consecutive days. Moreover, BlackRock’s IBIT continued to attract significant investment with $91.95 million in inflows. Fidelity’s FBTC also performed well, registering $74.57 million in inflows. However, Grayscale’s GBTC faced an outflow of $16.09 million.
In addition, the market’s demand for Bitcoin ETFs remained robust with a net inflow of $107 million on Thursday, marking nine consecutive days of positive inflows. BlackRock’s IBIT led again with $89 million in inflows. Fidelity’s FBTC reported $19.12 million, while VanEck’s HODL accounted for $9 million. Both Ark 21Shares’ ARKB and Invesco Galaxy’s BTCO recorded net inflows of $2 million each. Grayscale’s GBTC, however, saw an outflow of $13.72 million.
The week concluded with a total net inflow of $252 million on Friday, May 24, extending the inflow streak to ten consecutive days. In addition, BlackRock’s IBIT recorded a strong inflow $182 million. Fidelity’s FBTC also saw a significant inflow of $43.7083 million. Grayscale’s GBTC had a neutral day with neither inflows nor outflows.
<h2 id="michael-saylor-lauds-robust-inflows">Michael Saylor Lauds Robust Inflows</h2>
Moreover, BlackRock has continued to dominate the Bitcoin ETF market, steadily closing the gap with Grayscale. As of now, BlackRock’s IBIT holds 284,526 Bitcoins worth $19.32 billion, while Grayscale’s GBTC holds 289,257 Bitcoins valued at $19.64 billion.
Furthermore, MicroStrategy CEO Michael Saylor has commended the robust performance of these ETFs. Moreover, he also lauded the global BTC ETF market. In a post on X, he wrote, “Bitcoin    held by 28 Spot ETFs is approaching 1 Nakamoto.” Hence, we could soon witness 1 million BTC locked into these investment products.
According to the latest update, the U S. Bitcoin ETFs hold a massive reserve of 855,702 BTC. Whereas, the global ETFs hold a stash of 991,336 BTC, which suggests that within the next week, the stack could surge past 1 million BTC.
Moreover, it could be very bullish for the <a href="https://coingape.com/bitcoin-news-maxi-deems-ethereum-etf-incredibly-bullish-for-btc-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> price. These ETFs bought 15,421 BTC this week, which is much higher than 13,500 BTC mined in a month. This could lead to a supply crunch as the Bitcoin exchange reserve is also diminishing due to significant whale accumulation.
Also Read:&nbsp;<a href="https://coingape.com/grayscales-bitcoin-dominance-threatened-as-blackrocks-ibit-eyes-top-spot/" target="_blank" rel="noopener noreferrer nofollow">Grayscale’s Bitcoin Dominance Threatened As Blackrock’s IBIT Eyes Top Spot</a>
The post <a href="https://coingape.com/bitcoin-etf-end-the-week-with-15k-btc-inflow-michael-saylor-hails-milestone/" rel="noopener noreferrer nofollow">Bitcoin ETFs End The Week With 15K BTC Inflow, Michael Saylor Hails Milestone</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETFs End The Week With 15K BTC Inflow, Michael Saylor Hails Milestone

Table of Contents

Coingape News Media

Other articles published on May 26, 2024

From IT Pro to Litecoin Miner: BlockDAG’s Advanced ASIC Crypto Miners Target Comparable Success

How Shiba Inu’s (SHIB) Price Could Skyrocket 600% According to Crypto Analysts

Heartland Tri-State Bank’s Ex-CEO Pleads Guilty to Crypto-Linked Fraud

XRP ETF in 2025? Community Is Divided in Opinions

Ethereum ETF Approved, Elon Musk Mourns Kabosu's Death, Trump Embraces Crypto Donations And More:...

3 Dog-Themed Cryptocurrencies to Buy as Dogecoin’s Value Rises

Join our free newsletter for daily crypto updates!