Bitcoin Spot ETFs Record $623 Million Net Inflow for Sixth Straight Week

iconKuCoinFlash
Share
Share IconShare IconShare IconShare IconShare IconShare IconCopy
AI summary iconSummary

expand icon
Bitcoin breaking news: Bitcoin spot ETFs recorded a $623 million net inflow for the sixth consecutive week, according to MetaEra. During the week of May 4 to May 8 (EDT), BlackRock’s IBIT led with a $596 million inflow, while Grayscale’s GBTC experienced a $62.28 million outflow. Total net assets now stand at $106.61 billion, with a net asset ratio of 6.67%. Bitcoin news reflects sustained institutional interest in the asset class.

ME News reports that, as of May 11 (UTC+8), according to SoSoValue data, Bitcoin spot ETFs recorded a net inflow of $623 million during the previous trading week (May 4 to May 8, Eastern Time).

Last week, the Bitcoin spot ETF with the highest net inflow was BlackRock's IBIT, with a weekly net inflow of $596 million, bringing IBIT's total historical net inflow to $66.1 billion. Second was Ark & 21 Shares' ARKB, with a weekly net inflow of $53.09 million, bringing ARKB's total historical net inflow to $1.71 billion.

Last week, the Bitcoin spot ETF with the largest net outflow was Grayscale Bitcoin Trust (GBTC), with a weekly net outflow of $62.2783 million; GBTC's cumulative historical net outflow now stands at $26.35 billion.

As of the time of writing, the total net asset value of spot Bitcoin ETFs is $106.61 billion, with an ETF net asset ratio (market capitalization as a percentage of Bitcoin’s total market cap) of 6.67%, and cumulative net inflows reaching $59.34 billion historically.(Source: SoSoValue)

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.