As a seasoned crypto investor with a keen interest in the Bitcoin ETF market, I’m thrilled to see the recent inflow streak of 13 days for U.S. spot Bitcoin ETFs. This trend indicates that investors remain confident in Bitcoin’s potential and are continuing to pour capital into the ecosystem despite BTC‘s failure to reach new all-time highs.
The US market for Bitcoin exchange-traded funds (ETFs) has experienced a prolonged period of investment inflows, the last instance of which occurred in February.
Based on Farside Investors’ statistics, there has been a continuous influx of investments into spot Bitcoin Exchange-Traded Funds (ETFs) for 13 consecutive days starting from May 13, 2024. This trend signifies investors’ growing faith in Bitcoin and their consistent infusion of capital into the market, even as Bitcoin has yet to set a new record high price.
Longest Inflow Streak Since February
As a researcher studying the Bitcoin market, I’ve observed an intriguing trend following the January 11 launch of U.S. spot Bitcoin ETFs. Within two trading days after their listing, these new funds experienced collective outflows totaling over $52 million as investors shifted their assets away from Grayscale’s GBTC. Despite the substantial or nonexistent inflows during the first ten days for these nine newly-minted ETFs, the outflows from GBTC far outpaced their inflow streak.
As a researcher, I’ve observed an intriguing shift in trends towards the end of January. While GBTC was experiencing outflows, the inflows from newborn ETFs began to dominate, causing a notable reversal. This pattern persisted until mid-February, resulting in an impressive 17-day streak during which these ETFs attracted billions in investments.
Up until Bitcoin reached its peak price of $73,700 in mid-March, exchange-traded funds (ETFs) experienced more money coming in than going out during February. However, once investors started to cash in on their profits, the inflows decreased slightly.
April brought a gloomy atmosphere as ETFs experienced more withdrawals than deposits, totaling in excess of $563 million on the first day of May for all US Bitcoin ETFs. This unfortunate trend aligned with a broader crypto market slump, as investors cashed out their gains.
A 13-Day Inflow Streak
Over the past two weeks, from May 1 to May 13, the ETFs experienced a series of four consecutive days with outflows, following a significant decline in their value. In contrast, the U.S. Bitcoin spot ETF market has seen uninterrupted inflows for the past 13 days. However, it’s important to note that individual funds within this category have occasionally recorded outflows during this period.
Yesterday, I observed approximately $100 million in redemptions from my investment in ARKB through Ark Invest. However, my investments in their other funds experienced stronger demand, resulting in a net inflow of around $48.8 million.
As an analyst, I’ve observed that May has been a prosperous month for the Bitcoin spot ETF market. Three days ago, BlackRock’s IBIT took the lead as the largest ETF in terms of assets under management, leaving GBTC behind. Furthermore, the global Bitcoin spot ETF market currently manages over one million Bitcoins in total.
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2024-05-31 15:47