US Bitcoin ETFs Notch Fifth Consecutive Week of Inflows—But the Party’s Getting Quieter
Wall Street’s bitcoin carnival rolls on—for now. Spot ETFs just logged their fifth straight week of positive inflows, proving institutional money hasn’t entirely fled the crypto circus.
Behind the numbers: Demand is cooling faster than a trader’s espresso after a 10% dip. Daily volumes slumped 40% from April’s frenzy, with even BlackRock’s IBIT seeing its weakest inflows since launch. ’Hodl’ might be the mantra, but patience wears thin when the Fed’s rate-cut piñata stays stubbornly out of reach.
The kicker: When your ’safe haven’ asset swings harder than a VC’s mood during a SEC lawsuit, maybe—just maybe—traditional finance isn’t quite ready to marry crypto. It’s a fling, not a ring.
Bitcoin ETFs Register $260 Million Inflow In A Single Day
According to the latest data from SoSoValue, the spot Bitcoin ETF market in the United States witnessed a total net inflow of $260.27 million on Friday, May 16. This latest round of capital influx represents the third consecutive day of positive inflows for the crypto products after seeing significant withdrawals on Tuesday, May 13.
The market data shows that none of the Bitcoin ETFs recorded an outflow on Friday, with BlackRock’s iShares Bitcoin Trust (with the ticker IBIT) receiving the most significant portion of the capital inflow. The largest BTC exchange-traded fund registered nearly $130 million in additional value to end the week.
Fidelity Wise Origin Bitcoin Fund (FBTC) posted the second-largest inflow on Friday, with $67.95 million in additional value. Ark & 21Shares’ Bitcoin ETF (ARKB) also registered a net daily influx of $57.98 million on the day. Finally, Grayscale’s Bitcoin Mini Trust (BTC) also recorded a total daily inflow of $4.61 million to close the trading week.
As highlighted, this $260 million net capital influx on Friday brought the US-based spot Bitcoin ETFs’ weekly record to a positive total inflow of over $603 million. Notably, this positive weekly performance represents the fifth straight week of capital influx for the crypto-linked financial products.
However, it is worth mentioning that the weekly inflow total seems to be in a downward trend, with the summit in mid-April when the Bitcoin ETFs recorded their second-best weekly performance. According to data from SoSoValue, the BTC exchange-traded fund recorded over $3 billion in total weekly inflow between April 20 and April 25.
The US Bitcoin ETF market last crossed the $1-billion mark in the final week of April, posting about $1.8 billion in cumulative weekly inflow. With the sustained decline in capital influx, it appears fatigue might be creeping in amongst the ETF investors in the United States.
Bitcoin Price At A Glance
As seen with the bullish price action at the recent ETF activity’s peak, the price of BTC still reacts to the performance of the US-based Bitcoin ETFs. Hence, investors might want to approach the market with caution, especially considering the declining ETF capital inflows.
As of this writing, the price of BTC stands at around $103,362, reflecting no significant movement in the past 24 hours. This single-day action underscores the premier cryptocurrency’s struggles within a consolidation range in the past week.
