- U.S Spot Bitcoin ETF has seen an inflow of $170M during the first two days of this week.
- BlackRock’s IBIT has been subdued during the first two trading days of the week.
Starting the week on a strong note, the U.S Spot Bitcoin ETF space seems to be maintaining its momentum. After recording three days of outflows last week, the U.S Spot Bitcoin ETF has seen an inflow of approximately $170 million during the first two days of this week.
On the other hand, the most recent inflow data shows that investors are becoming more confident in Bitcoin ETFs. The most recent statistics on inflows also seems to have contributed to Bitcoin’s price maintaining above key levels.
Dwindling Institutional Support
In the realm of digital assets, one of the most significant developments this year has been the approval of the U.S Spot Bitcoin ETF. It should be mentioned that the gains seen since last year are also attributable, in part, to the expectation of the ETF approval.
Midway through March, Bitcoin hit a new all-time high of $73,000, propelled in part by the phenomenal performance of Bitcoin ETFs in the United States. Still, the aggregate data from the previous few weeks revealed that the Grayscale’s outflux had an impact on the perspectives. Worries about dwindling institutional support have also muted enthusiasm.
But the most recent numbers from Farside Investors show that on May 14, Bitcoin ETFs received $100.5 million. The notable exception is ARKB, which has received $133.1 million, more than canceling out Grayscale’s $50.9 million outflow.
However, trade in BlackRock’s IBIT has been subdued during the first two trading days of the week. The most recent data on U.S Spot Bitcoin ETF inflows has also generated debate, as it shows that market participants’ trust is unshaken despite the recent inflation updates.
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