Bitcoin Smashes $100K Milestone—So Why Are ETF Inflows Stalling?

BTC just notched a historic six-figure price tag—yet institutional money isn’t chasing the hype like you’d expect. Are Wall Street’s ’digital gold’ evangelists finally hitting their risk tolerance ceiling?

The disconnect screams louder than a crypto Twitter thread: Retail FOMO meets institutional caution as ETF flows taper despite the ATH. Maybe those suits finally read the fine print about volatility.

One cynical take? TradFi players love blockchain—until they remember it doesn’t come with bailouts.

Bitcoin ETFs see contrasting inflows

These U.S.-listed funds, which had recently faced outflows amid tariff-related uncertainty, have swiftly rebounded, attracting significant institutional capital.

In just the past two days, i.e., the 7th and the 8th of May, bitcoin ETFs pulled in a combined $260 million, reflecting renewed investor confidence.

While the aggressive pace of inflows appears to be leveling off, the sustained demand signals that institutional appetite remains strong as Bitcoin continues to test new highs.

However, while Bitcoin has now breached the $100K milestone, the recent ETF inflows haven’t quite matched the intensity seen during previous market recoveries.

Back when BTC was still below $100K, U.S. spot Bitcoin ETFs saw inflows surge as high as $917 million in response to tariff-related rebounds.

In contrast, the most recent data from Farside Investors shows more modest figures: $142.3 million and $117.4 million in inflows on the 7th and the 8th of May, respectively.

Fidelity’s FBTC surpasses BlackRock’s IBIT

What stands out, however, is not just the volume but the evolving behavior of major institutional players like BlackRock and Fidelity, suggesting a potential shift in strategic positioning.

BlackRock’s iShares Bitcoin Trust (IBIT), which has consistently dominated daily inflow charts, appears to be losing some steam.

After recording a staggering $643.2 million in inflows on the 23rd of April, recent figures show a sharp cooldown, with daily contributions slipping to the $30–70 million range.

Analysts suggest this slowdown could reflect a recalibration of investment strategies or signal the end of BlackRock’s initial accumulation phase.

Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) is showing renewed strength, garnering over $75 million in inflows across just two days.

This rebound could help Fidelity reclaim ground in the competitive Bitcoin ETF arena, especially after a week of net outflows.

What about Fidelity’s other ETFs?

Now, while Bitcoin ETFs continue to draw investor attention, ethereum [ETH] funds are facing a different reality.

On the 8th of May, Ether ETFs recorded outflows for the third consecutive day, with $16.1 million exiting the market, all from BlackRock’s ETHA, while the remaining eight Ether funds saw no activity.

Interestingly, Fidelity, though not leading the ETH ETF charge, has taken a strategic leap by advancing into new territory.

Its spot solana [SOL] ETF filing has now been formally recognized by the U.S. SEC, signaling its broader ambition in the digital asset arena.

While toppling BlackRock’s dominance won’t be easy, Fidelity’s expanding footprint suggests it’s gearing up for a more aggressive presence in the evolving crypto ETF landscape.