Bitcoin Spot ETFs Record 6 Consecutive Days of Inflows, Totaling $1.2 Billion

Approximately $1.2 billion in net inflows have poured into 11 US Bitcoin spot ETFs over the past 6 days, with $237.2 million alone on May 20.

Bitcoin Spot ETFs Record 6 Consecutive Days of Inflows, Totaling $1.2 Billion

After a period of subdued trading for over a month, US Bitcoin spot ETFs have seen a remarkable resurgence since May 15. For 6 consecutive days thereafter, these funds have all witnessed substantial inflows, except for VanEck's HOLD ETF on May 17 and 20, Wisdomtree's BTCW ETF on May 16-17, and Hashdex's DEFI ETF, which has been absent from the fray since May 2, 2024.

On the latest trading day, May 20 (US time), ARK's ARKB 21Shares led with $68.3 million, followed by iShares' IBIT and Fidelity's FBTC at $66.4 million and $64 million, respectively. Bitwise's BITB recorded $24 million inflows on the same day. ETFs that did not record inflows on the same day included Invesco's BTCO, Franklin's EZBC, Valkyrie's BRRR, VanEck's HODL, and Hashdex's DEFI.

Grayscale's GBTC mostly saw outflows but attracted $9.3 million in net inflows on May 20. WisdomTree's BTCW added $5 million.

Statistics on US Bitcoin ETFs as of May 20, 2024. Source: Farside Investors

In summary, 11 Bitcoin ETFs have collectively amassed over $1.18 billion in net inflows over the past 6 days. This brings the cumulative net inflows of Bitcoin spot ETFs since January to $12.87 billion.

Bitcoin prices rose by 6.1% over the past 24 hours, trading around $70,000. By early morning on May 21, Bitcoin surged to nearly touch the $72,000 mark.

4-hour chart of BTC/USDT pair on Binance at 03:40 PM on May 21, 2024