Since January, nine new spot Bitcoin ETFs have amassed 500,000 BTC, constituting 2.54% of the circulating supply, with a total value of $35 billion within 54 trading days after experiencing a $287.7 million influx on Thursday, according to data from Farside Investors.
In the broader U.S. market, including Grayscale, all spot Bitcoin funds hold 835,000 BTC, approximately 4% of the total supply. This week, ETF inflows rebounded to $845 million, reversing a trend of outflows since March 18.
On March 28, BlackRock’s IBIT fund attracted $95 million in inflows, with Fidelity and Bitwise also seeing substantial investments of around $67 million each. Ark 21Shares experienced a notable $27.6 million inflow after a $200 million surge on Wednesday.
Conversely, Grayscale’s GBTC fund witnessed an outflow of $105 million, the lowest since March 12, shedding 284,846 BTC since its conversion to a spot ETF in mid-January.
Additionally, Bitwise filed an S-1 application for a spot Ethereum ETF on March 28, with ETF analyst Eric Balchunas expressing skepticism about ETH ETF approval in May, citing a 25% chance and potential further declines due to the SEC’s lack of communication.
The surge in Bitcoin ETF holdings and the rebound in ETF inflows suggest growing institutional interest in cryptocurrencies despite regulatory uncertainties surrounding Ethereum ETF approval.
Also Read: Spot Bitcoin ETFs See $400 Million Inflows After 7 Days
