Bitcoin ETF Ends Week with 15K BTC Inflows, Michael Saylor Greets Milestone
The spot Bitcoin ETF market has witnessed significant investor activity over the past week, marked by consistent net inflows and notable outperformance from major ETFs. Over 15,000 BTC was inflowed into these ETFs, significantly outpacing the value of one month of new BTC mining.
Also Read: Bitcoin ETF Inflows Rise Again, BlackRocks Leads in Raising $182 Million
Spot Bitcoin ETF Weekly Entries
The week started strong with US Spot Bitcoin ETFs recording inflows of over $241 million on Monday, May 20. Grayscale’s ETF GBTC saw inflows of $9.35 million despite the resignation of CEO Michael Sonnenshein, marking the fifth consecutive day of net inflows for GBTC. ARKB, managed by Ark Invest and 21Shares, attracted $68.28 million, while BlackRock’s IBIT saw inflows of $66.35 million.
The momentum continued on Tuesday, with Spot Bitcoin ETF flows totaling $305.7 million. Additionally, BlackRock’s iShares Bitcoin Trust (IBIT) led the rise, recording an impressive inflow of $290 million, according to Farside UK data. Fidelity’s FBTC also contributed significantly with $25.8 million. However, Grayscale’s GBTC did not see any inflows today. In contrast, Bitwise Bitcoin ETF (BITB) and VanEck’s HODL experienced outflows of $4.2 million and $5.9 million, respectively.
Bitcoin ETFs maintained their positive trend on Wednesday with net inflows of $154 million, extending the streak to eight consecutive days. Additionally, BlackRock’s IBIT continued to attract significant investment, with inflows of $91.95 million. Fidelity’s FBTC also performed well, recording inflows of $74.57 million. However, Grayscale’s GBTC faced an outflow of $16.09 million.
Additionally, the market’s demand for Bitcoin ETFs remains strong with net inflows of $107 million on Thursday, marking a ninth consecutive day of positive inflows. BlackRock’s IBIT again maintained its leadership with an entry of $89 million. Fidelity’s FBTC reported $19.12 million, while VanEck’s HODL reported $9 million. Both Ark 21Shares’ ARKB and Invesco Galaxy’s BTCO recorded net inflows of $2 million each. However, Grayscale’s GBTC saw an outflow of $13.72 million.
The week ended on Friday, May 24, with a total net inflow of $252 million, with the inflow streak spanning ten consecutive days. Additionally, BlackRock’s IBIT recorded a strong inflow of $182 million. Fidelity’s FBTC also saw significant inflows of $43.7083 million. Grayscale GBTC index had a neutral day with no entries or exits.
Michael Saylor Praises Strong Entries
Additionally, BlackRock continues to dominate the Bitcoin ETF market, steadily closing the gap with Grayscale. As of now, BlackRock’s IBIT has 284,526 Bitcoins worth $19.32 billion, while Grayscale’s GBTC has 289,257 Bitcoins worth $19.64 billion.
Additionally, MicroStrategy CEO Michael Saylor praised the strong performance of these ETFs. He also praised the global BTC ETF market. “Bitcoin held by 28 Spot ETFs is approaching 1 Nakamoto,” he wrote in a post on X. Therefore, we may soon witness 1 million BTC locked in these investment products.
According to the latest update, US Bitcoin ETFs hold a massive reserve of 855,702 BTC. Whereas global ETFs have a storage of 991,336 BTC, which suggests that the pile could exceed 1 million BTC within the next week.
Moreover, it could be quite bullish for the Bitcoin price. These ETFs purchased 15,421 BTC this week; This is much higher than the 13,500 BTC mined in one month. This could lead to a supply shortage as the Bitcoin foreign exchange reserve is also decreasing due to significant whale accumulation.
Also Read: Grayscale’s Bitcoin Dominance Under Threat at Blackrock’s IBIT Eyes Summit
✓ Share:
parofix consists of an experienced team of local content writers and editors who work around the clock to cover the news globally and present the news as a fact rather than an opinion. parofix writers and reporters contributed to this article.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Bitcoin #ETF #Ends #Week #15K #BTC #Inflows #Michael #Saylor #Greets #Milestone