US Spot Bitcoin ETFs See Longest Flow of Income Since February

The U.S. spot in the Bitcoin exchange-traded funds (ETFs) market has recorded a long streak of gains, last seen in February.

According to data from Farside Investors, the spot Bitcoin ETFs are on a 13-day streak of inflows since May 13, 2024. This shows investors' confidence in Bitcoin's potential and the unwavering flow of capital into the space even if BTC cannot register all new. – High time.

The longest entry flow since February

Following the launch of US spot bitcoin EFAs on January 11, the funds saw more than $52 million in outflows after two trading days of listing as investors moved their assets out of grayscale GBTC in droves. While the nine fledgling ETFs saw little or no inflows in their first ten days of existence, outflows from GBTC outpaced their inflows.

However, the tide turned in late January as nine new-born babies flooded the GBTC outlets. This trend continued into mid-February, resulting in a 17-day inflow that sent billions into ETFs.

Although February's flow of income eventually broke, ETFs generated more income than expenses until BTC hit an all-time high of $73,700 in mid-March. Later, investors began to take profits, and earnings declined slightly.

April had a negative swing, as the month saw more outflows than inflows for ETFs. This coincided with a broader crypto market crash as investors continued to realize their profits. The negative trend spilled over into May as the first day of the month saw all US spot Bitcoin ETFs witness outflows of more than $563 million.

13-day entry flow

Starting with the ETF hemorrhage on May 1, investment vehicles saw four more days of outflows until May 13. The U.S. spot Bitcoin ETF market has been on a 13-day downtrend since then, although individual funds have recorded occasional breakouts.

Yesterday, Arch Invest's ARKB saw nearly $100 million in outflows, but inflows into other funds outpaced the fund, earning $48.8 million.

So far, May has been a good month for the spot Bitcoin ETF market. Three days ago, BlackRock's IBIT became the world's leading ETF by assets under management and surpassed GBTC. In addition, the international spot Bitcoin ETF market now contains more than one million BTC.