Spot Bitcoin ETFs have successfully reversed April’s outflows within the first two weeks of May.
Eric Balchunas, Senior ETF Analyst at Bloomberg, highlighted that Bitcoin ETFs have already attracted $1.3 billion in inflows this month, effectively countering April’s negative outflows. This brings the total inflows to $12.3 billion since their inception.
Balchunas emphasized that fluctuations in capital movements are a natural aspect of ETFs and should not concern investors. He remains confident that spot Bitcoin ETFs will deliver positive long-term returns.
CryptoQuant reports that this resurgence in activity is coupled with renewed demand for Bitcoin. Both regular holders and large investors are increasing their Bitcoin holdings, indicating a heightened market interest.
Recent data from SoSo Value confirms that spot Bitcoin ETFs have experienced a robust recovery from April’s downturn. On May 16, these funds reported $257.34 million in inflows.
Leading the pack is BlackRock’s iShares Bitcoin Trust (IBIT), which secured $94 million in inflows, boosting its assets under management to $18 billion, just shy of the Grayscale Bitcoin Trust ETF (GBTC).
On the same day, GBTC recorded a net daily inflow of $5 million, marking the third consecutive trading day it closed in positive territory since its transition from a trust to a spot ETF.