Bitcoin ETFs See $46.3M Inflows, Extend Streak to 5 Days

Bitcoin ETFs posted a total net inflow of $46.33 million on May 6, the fifth straight trading day of positive flows for the product category.

The figure pushed cumulative net inflows since launch to $59.76 billion, with total net assets across the listed funds standing at $108.76 billion.

The pace of buying cooled sharply from earlier in the month, when daily inflows had topped $400 million on multiple sessions. Trading volume across Bitcoin ETFs reached $2.11 billion on the day, according to data from SoSoValue.

BlackRock’s IBIT Anchors Bitcoin ETFs Daily Tally

BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) was the main driver behind the daily figure. The fund recorded $134.61 million in net inflows on May 6, equivalent to 1.65 thousand BTC. Its cumulative net inflow now stands at $1.05 billion.

Several other issuers posted outflows that pulled down the headline number. Fidelity (CBOE: FBTC) registered $38.95 million in outflows, the largest withdrawal of the day across all Bitcoin ETFs.

Bitwise (NYSE: BITB) followed with $25.18 million in outflows, while Grayscale (NYSE: GBTC) saw $17.10 million leave the fund. Franklin Templeton (CBOE: EZBC) posted a smaller outflow of $7.05 million.

The remaining issuers, including Ark & 21Shares (CBOE: ARKB), VanEck (CBOE: HODL), Invesco (CBOE: BTCO), Valkyrie (NASDAQ: BRRR), Morgan Stanley (NYSE: MSBT), WisdomTree (CBOE: BTCW), and Hashdex (NYSE: DEFI), recorded zero net flows for the session. Grayscale’s Bitcoin Mini Trust (NYSE: BTC) also posted no movement on the day.

Daily Inflows Cool Off After Strong Start to May

The May 6 figure sits well below the daily totals seen earlier in the week. On May 5, the funds drew $467.35 million, with May 4 adding $532.21 million and May 1 bringing in $629.73 million.

Those three trading sessions alone accounted for more than $1.6 billion of fresh capital flowing into the products.

Cumulative net inflow rose from $58.72 billion on May 1 to $59.76 billion by May 6. Total net assets climbed past $108 billion, up from $103.78 billion at the start of the month and $99.27 billion on April 29.

The recent run of positive days reverses a brief setback seen at the end of April. On April 29, the funds posted $137.77 million in outflows. April 30 saw inflows return at $14.76 million before the larger May surge began.

Weekly Bitcoin ETFs Flows Cross $1 Billion

On a weekly basis, Bitcoin ETFs pulled in $1.05 billion for the week ending May 6, a sharp jump from $153.87 million the previous week. Trading volume for the week reached $8.32 billion across the eleven listed products.

Earlier weekly tallies included $823.70 million for the week of April 24, $996.38 million for the week of April 17, and $786.31 million for the week of April 10. The first week of April had been quieter at $22.34 million in net inflows.

The May 6 weekly figure brings cumulative net inflow into Bitcoin ETFs back to a record level since their listing in January 2024.

Total net assets at the close of the week reached $108.76 billion, the highest weekly closing figure on record for the product category.

Ethereum Funds Add Their Fourth Straight Day of Inflows

Ether-based products posted a total net inflow of $11.57 million on May 6, their fourth consecutive day of positive flows.

Cumulative net inflow for the Ethereum products now stands at $12.19 billion, with total net assets at $14.01 billion.

The Ethereum product’s daily inflows have moved within a tighter range than their Bitcoin counterparts during the same stretch.

May 5 saw $97.57 million in inflows, May 4 added $61.29 million, and May 1 brought in $101.18 million. Trading volume on May 6 across the Ethereum funds totaled $491.75 million.

The combined cumulative net inflow across Bitcoin and Ethereum exchange-traded funds now sits at $71.95 billion, with total assets under management across both categories topping $122 billion.