Bitcoin ETFs Attract $260M in Two Days

After a heady week with billion-dollar inflows, the US spot Bitcoin ETFs are catching their breath this week. Over the last two days, May 7 and 8, these funds pulled in a combined $260 million, maintaining a steady pace. Interestingly, while BlackRock’s once-dominant IBIT is attracting just about one-fourth of the usual inflow, Fidelity’s FBTC is quietly regaining ground.

Bitcoin ETFs have been on a roller coaster ride over the last few weeks. After a couple of weeks of outflows due to tariff uncertainties, they bounced back with billions of inflows during the last two weeks. According to the data from Farside Investors, the inflow momentum has sustained this week as well, as Bitcoin’s price surged past $100,000.

Fidelity Challenges BlackRock’s Dominance

The inflow amount this week is still much lower compared to last week, when the daily inflows ranged from $400 -600 million on most days. However, what’s more interesting is the shift in patterns of investment from the two largest players, BlackRock and Fidelity.

BlackRock’s iShares Bitcoin Trust (IBIT) has always constituted the lion’s share of the daily inflows, going as high as $971 million on April 28. However, this week the inflows into IBIT have come down sharply, hovering around $30-70 million per day. Experts opine that the deceleration may indicate a shift in investor allocation strategies or a plateau in BlackRock’s aggressive accumulation phase.

On the other hand, Fidelity’s Wise Origin Bitcoin Fund (FBTC) has attracted over $75 million in two days, showing signs of strong momentum. Considering its net negative inflow in the past week, the strong numbers are likely to reestablish Fidelity as a strong contender in the Bitcoin ETF space.

Bullish momentum continues

The continued inflows coincide with Bitcoin’s price rally. Strong macroeconomic factors like easing trade tensions, three U.S. states approving Bitcoin reserve laws within 24 hours, and favorable inflation data are helping the BTC prices scale new highs this week.

A recent update from Standard Chartered suggests that the inflows into spot Bitcoin ETFs have reached $5.3 billion over the past three weeks. The sustained Bitcoin ETF inflows, coupled with BTC price momentum, have boosted investor sentiments, with well-known crypto enthusiasts like Arthur Hayes predicting the BTC price to touch $150,000 by the end of the month.

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Deekshith Pinto

Deekshith is a seasoned news editor with over a decade of experience in the news and media industry. He began his career as an engineer at Toyota but soon swapped tools for storytelling. After his master’s at Nalanda University, he joined Times Internet as a staff writer. Over the next few years, he served as the News Editor for Indian bureaus of multiple international platforms, mainly The Weather Channel and Business Insider. He scaled both these large platforms and mentored dynamic teams of young writers and content creators. His editorial instincts are driven by a passion for storytelling, a fascination with data, and just the right amount of chaos to keep things interesting.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.