Bitcoin ETFs Reach $40.3B Lifetime Flow Record Amid Price Recovery

Spot Bitcoin ETFs in the US have achieved a new milestone, reaching a lifetime flow record of $40.3 billion on May 8. This significant achievement comes as Bitcoin's price has shown a steady recovery, climbing from its lowest year-to-date price of $74,441.20 on April 7 to above $103,000 by May 8. The ETF flows closely mirrored Bitcoin's price performance, with nearly $4.8 billion in net flows added between April 7 and May 8, representing over 10% of their lifetime flows.

During this period, only eight out of 23 trading days saw outflows, totaling $1 billion. This data underscores the resilience and growing interest in Bitcoin ETFs despite market uncertainties. The dominance of BlackRock’s IBIT is particularly noteworthy, as it registered over $4.4 billion in net flows, nearly 92% of the period’s net flows. This trend is attributed to a pattern favoring IBIT, which was also the eighth-largest ETF by year-to-date flows on May 5. As of May 8, IBIT had accumulated $44.3 billion in net flows, nearly four times that of Fidelity’s FBTC, the second-largest spot Bitcoin ETF by net flows.

FBTC, on the other hand, registered the second-largest net flows since Bitcoin's recovery, with $192.4 million added, which is just 4.4% of all the flows added to IBIT. The strong inflows since April 7, coupled with improving retail sentiment, suggest stronger tailwinds supporting the Bitcoin market. This new all-time high in lifetime flows of spot Bitcoin ETFs amidst an uncertain market reiterates the surging demand from institutional and traditional investors.