Bitcoin ETFs Experience Record Inflows After Successful Launch in January
On May 3rd, Bloomberg analyst Eric Balchunas witnessed a monumental shift in the market. But will we ever see it again? Balchunas remains skeptical, even though Bitcoin’s value dropped below $60,000 and investors were pulling out of spot Bitcoin ETFs. Surprisingly, over 95% of investors stood their ground and held onto their funds.
“Will the same happen next time? Who knows, but track record says it will be a pretty high % again.”
Eric Balchunas, Bloomberg Analyst
The market expert boldly predicts a dynamic ebb and flow in the spot ETF world, with both gains and losses expected to occur over time. As the market evolves, two key traits will emerge among funds: steady growth and resilient investors.
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A recent milestone was achieved on May 3rd, as Grayscale Investments’ spot Bitcoin ETF experienced its first ever net inflow since its debut in January of 2024.
And it’s not just Grayscale making waves – BlackRock’s fund has already amassed a whopping $15 billion in net inflows, boosting its assets under management to an impressive $16.93 billion.
May 3 was a monumental day for the world of Bitcoin as a staggering $378.2 million flooded into spot Bitcoin ETFs. Just two days prior, a record-breaking $563.7 million was pulled out of cryptocurrency ETFs, causing a stir in the market.
The ebb and flow of capital in the digital currency world continues to keep investors on the edge of their seats.