Breaking records in the world of cryptocurrency, Eric Balchunas, the esteemed Senior ETF Analyst at Bloomberg, revealed that Bitcoin ETFs have witnessed a staggering $1.3 billion influx in May alone. This impressive surge has not only erased the previous month’s negative inflows but has also added a whopping $12.3 billion to the total inflow since its launch.
Amidst the ever-changing landscape of ETFs, one analyst is urging investors to keep calm and carry on. According to expert Eric Balchunas, fluctuations in capital inflows and outflows are simply part of the natural cycle for these popular investment vehicles.
And despite recent concerns, Balchunas remains confident that spot Bitcoin ETFs will continue to deliver strong long-term returns. CryptoQuant’s latest research reveals a promising trend in the world of cryptocurrency. As Bitcoin’s balance with both individual and institutional investors continues to climb, it’s a clear sign that demand for the digital currency is on the rise.
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Bitcoin ETFs are making a strong comeback as capital pours in after a recent dip. SoSo Value reports a whopping $257.34 million inflow on May 16th alone. None other than iShares Bitcoin Trust from the powerhouse BlackRock, raking in an impressive $94 million.
While their capital under management stands at $18 billion, it’s still slightly trailing behind the Grayscale Bitcoin Trust ETF’s $18 billion.
Breaking records and making waves, GBTC made a splash on May 16th with a whopping $5 million influx in a single day. This marked the third time since its transformation from a trust to a spot ETF that the product ended the day in the green.