Bitcoin ETF Inflow Sees Fourth Consecutive Positive Day With $257 Million

Key Points:

• Spot Bitcoin ETF inflow surged to $257 million on May 16, driven by positive sentiment and institutional interest.
• Leading ETFs like Bitwise and Grayscale’s GBTC saw significant net inflows, with Bitwise experiencing its largest inflow since launch.
• The SEC’s approval of spot Bitcoin ETFs in January marked a turning point, with institutional investors and major global banks entering the market.

The US spot Bitcoin ETF inflow surged to $257 million on May 16, driven by growing positive sentiment surrounding Bitcoin ETFs.

Spot Bitcoin ETF Inflow Reaches $257 Million in the US

According to data from HODL15Capital, Bitwise witnessed a significant net inflow of $1.4 million in BITB funds, while Franklin’s EZBC saw a net inflow of $4 million, and Ark Invest’s ARKB recorded a staggering $62 million net inflow. Notably, this marks Bitwise’s largest inflow since its inception.

Meanwhile, Grayscale’s Bitcoin ETF (GBTC) observed a net inflow of $5 million on the same day, contributing to its fourth consecutive day of positive performance. BlackRock’s IBIT also experienced substantial inflows, totaling $93.6 million.

SEC Approval Triggers Major Investments in Cryptocurrency ETFs

The Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January, marking the first quarter investors could access such investment vehicles, with the exception of GBTC, which was available before its conversion to an ETF.

Spot Bitcoin ETF inflow has displayed robust performance this week, witnessing three consecutive days following two modest days of outflows last week.

Investments in Bitcoin ETFs are not limited to retail investors, as notable firms, including Millennium Management and Schonfield Strategic Advisors, alongside major global banks such as Morgan Stanley, JPMorgan Chase, Wells Fargo, BNP Paribas, and UBS, have also entered the space.

According to K33 Research senior analyst Vetle Lunde, over 937 professional firms invested more than $11 billion in US spot Bitcoin ETFs during the first quarter, highlighting the growing institutional interest in cryptocurrency ETFs.