Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Bitcoin ETF snapshot: Week’s inflows hit highest mark since March

Bitcoin ETF snapshot: Week’s inflows hit highest mark since March

BlockworksBlockworks2024/05/21 00:13
By:Blockworks

The $948 million of inflows from May 13 to May 17 roughly equaled the net money that left the fund category over the five prior weeks

Spot bitcoin ETFs saw their best inflow week in two months as a consumer price index report last week seemed to ease concerns weighing the asset down.

The US fund category collectively notched $948 million in positive net flows from May 13 to May 17, according to Farside Investors data .  

This was the highest total during a single week since the fund segment welcomed more than $2.5 billion to its coffers between March 11 and March 15.

Analysts attributed the subsequent drying up of demand in April to profit-taking and the Federal Reserve’s anticipated higher-rates-for-longer approach.  

Read more: Strong start, slowing demand: The first 4 months of US spot bitcoin ETFs       

But April’s consumer price index (CPI) print, published Wednesday, came in cooler than expected at 0.3% month-on-month, according to Ryze Labs analysts — compared to the market expectation of 0.4%.

“This has quelled rumors of a potential rate hike and paves the way for [Fed Chair Jerome] Powell to consider a rate cut in the coming months,” the analysts wrote. 

Rate expectations had been one factor seeming to weigh down bitcoin’s price in recent weeks. The cost of one BTC dropped to as low as about $57,000 on May 1 following its new all-time high of more than $73,000 reached in mid-March.  

Bitcoin’s price rose to around $67,000 on Friday and remained around that level on Monday morning. 

James Butterfill, head of research at CoinShares, noted the vast majority of the inflows (more than 80%) came in the week’s final three days after the CPI print. This highlights the company’s view that BTC prices “have recoupled to interest rate expectations,” he wrote in a Monday report .

The $948 million of net inflows into spot bitcoin ETFs nearly equaled the net money exiting the funds over the previous last five weeks. From April 8 to May 10, the category endured net outflows of $931 million, Farside Investors data shows.

Notably, it was the first week of net inflows — albeit just barely — for the Grayscale Bitcoin Trust ETF (GBTC). 

That fund’s $17.6 billion of net outflows over the last four-plus months have weighed down the segment, which has now hit about $12.6 billion of combined positive net flows.

The inflows came during a week in which more institutional investors revealed their holdings in such funds. The Securities and Exchange Commission requires institutional investment managers to disclose their holdings quarterly in what are known as 13F filings. 

Segment observers have recently found out, via the disclosures, that Wisconsin’s Investment Board bought 2.4 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) and over a million shares of GBTC. Hedge fund Millennium Management revealed owning about 20 million IBIT shares worth more than $844 million.

Read more: How are advisers using bitcoin ETFs in client portfolios? It depends.

In all, the 13Fs showed that more than 400 institutional investors hold IBIT. 

The disclosures reflect the institutional participation that bitcoin ETFs had expected to unlock, noted Anchorage Digital CEO Nathan McCauley. 

“From hedge funds and endowments, to governments and pension funds, traditional players are driving hundreds of millions of dollars in ETF inflows,” McCauley added in a statement. “As bitcoin liquidity increases, expect more institutions to participate in crypto through safe and secure infrastructure.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter .

Tags
  • bitcoin etf
  • BTC
  • Federal Reserve
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

Explore top altcoins to buy now like BlockDAG, Solana, Cardano, and Avalanche. See what makes them stand out and their potential in 2025.2. Solana’s Speed and Market Data Insights3. Cardano’s Smart Contract Strengths to Explore4. Avalanche (AVAX) Market Overview and Network CapabilitiesTop Altcoins to Buy in 2025: A Summary of Choices

Coinomedia2025/05/15 21:55
Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Witness the SUI price prediction climb, Polkadot form bullish patterns, and Unstaked AI presale surge with 2,700% ROI potential as the top crypto pick for 2025.Polkadot Eyes Breakout from Bullish WedgeUnstaked Turns AI From a Buzzword Into a Business EngineThe Path Ahead

Coinomedia2025/05/15 21:55
SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

$CAT and $SNEK dip, while BTFD Coin preps for liftoff—is this the next crypto to explode?BTFD Coin: The Referral Gold Rush Fuelling the Next Crypto to ExplodeSnek ($SNEK): Can This Cardano Creature Strike Back?Simon’s Cat ($CAT): Nine Lives, But Losing One Fast?Time’s Almost Up: BTFD Coin’s Presale Ends May 26

Coinomedia2025/05/15 21:55
Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

Jetcraft Now Accepts Bitcoin for Private Jet Payments

Private jet giant Jetcraft now accepts Bitcoin and crypto, signaling growing luxury adoption.Billionaires Are Buying Jets with BitcoinA Bold Shift in Luxury SpendingWhat This Means for Crypto Adoption

Coinomedia2025/05/15 21:55
Jetcraft Now Accepts Bitcoin for Private Jet Payments