Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
US Bitcoin spot ETFs attract $2 billion in net inflows over two weeks

US Bitcoin spot ETFs attract $2 billion in net inflows over two weeks

Cryptobriefing2024/05/25 20:50
By:Vivian Nguyen

Investors have poured around $2 billion into US spot Bitcoin exchange-traded funds (ETFs) over the past two weeks, according to data from Farside. These funds also recorded a tenth consecutive day of net inflows.

This week alone, US spot Bitcoin ETFs saw over $1 billion in inflows, with Thursday recording the largest daily inflow of around $305 million.

BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT), led the pack with nearly $720 million in weekly inflows. Fidelity’s Wise Origin Bitcoin Fund (FBTC) took the second spot with around $227 million.

 
 
US Bitcoin spot ETFs attract $2 billion in net inflows over two weeks image 0 US Spot Bitcoin ETF Inflows – May 13-24 – Farside

The order was different last week when FBTC surpassed IBIT in terms of weekly inflows. Data shows that FBTC recorded around $344 million in inflows from May 13 to 17 while IBIT saw approximately $132 million.

With over 284,525 BTC in its holdings, IBIT is just $300 million away from surpassing Grayscale Bitcoin Trust , which currently holds 289 BTC, valued at $19.9 billion. This calculation is based on Bitcoin (BTC) being worth $69,100 as of the writing, according to CoinGecko . IBIT is well on track to become the largest Bitcoin ETF .

Meanwhile, Bitcoin’s price moved in the same direction with strong ETF inflows in the last two weeks.

 

On May 24, this week’s final trading day, the price soared to $69,000, up around 13% over the past two weeks. Bitcoin is now only 6% away from its record high of $73,700, established in March.

Bitcoin had stagnated after the fourth halving, which analyst Rekt Capital pointed out as the post-halving “danger zone” characterized by heightened volatility. He noted last week, however, that the selling pressure was weakening; Bitcoin was entering a phase of accumulation .

In addition to Bitcoin ETFs, the week’s spotlight was on the SEC’s approval of spot Ethereum ETF filings . These ETFs still need S-1 form approval to begin trading, which ETF experts believe will take weeks to months. However, in essence, the approval of spot Ethereum ETFs indicates that the launch of these funds is imminent .

Positive developments prior to the approval had factored into the surge in Ethereum’s price (ETH). On Monday, ETH jumped 8% on news that approval odds were raised to 75%. Rally extended during the day with a broader market upswing. At press time, ETH is trading at around $3,700, up over 20% over the past seven days.

 
1

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: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Mars Morning News | Federal Reserve Hawks Speak Out, Asset Price Crash Risk May Become New Obstacle to Rate Cuts

JPMorgan warns that if Strategy is removed from MSCI, it could trigger billions of dollars in outflows. The adjustment in the crypto market is mainly driven by retail investors selling ETFs. Federal Reserve officials remain cautious about rate cuts. The President of Argentina has been accused of being involved in a cryptocurrency scam. U.S. stocks and the cryptocurrency market have both declined simultaneously. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.

MarsBit2025/11/21 06:08
Mars Morning News | Federal Reserve Hawks Speak Out, Asset Price Crash Risk May Become New Obstacle to Rate Cuts

Pantera Partner: In the Era of Privacy Revival, These Technologies Are Changing the Game

A new reality is taking shape: privacy protection is the key to driving blockchain toward mainstream adoption, and the demand for privacy is accelerating at cultural, institutional, and technological levels.

深潮2025/11/21 04:36
Pantera Partner: In the Era of Privacy Revival, These Technologies Are Changing the Game