Bitcoin ETFs See $422M Inflow Led by BlackRock's $351M

On May 1, Bitcoin exchange-traded funds (ETFs) experienced a significant inflow of $422 million. This substantial investment was predominantly driven by BlackRock's IBIT, which alone accounted for $351 million of the total inflow. This surge in investment highlights the growing interest and confidence in Bitcoin as an asset class, with institutional investors playing a pivotal role in this trend. BlackRock's dominant position in this inflow underscores the firm's strategic focus on digital assets and its ability to attract substantial capital into its Bitcoin ETF. The continuous inflow into Bitcoin ETFs suggests a bullish sentiment among investors, who are increasingly viewing Bitcoin as a viable and valuable addition to their portfolios. The data indicates a strong appetite for digital assets, particularly Bitcoin, and reflects the broader trend of institutional adoption in the cryptocurrency market.

This inflow followed a previous outflow on Thursday, which broke an eight-day winning streak and pushed cumulative net flows for US-listed spot Bitcoin ETFs back to $39.5 billion since their launch. The total assets under management (AUM) across both spot funds have reached $112 billion as the Bitcoin price continues to rise well above ETF launch prices. BlackRock’s IBIT alone has had total inflows of an AUM of $58 billion, or 597k BTC. The gap in net cumulative flows and AUM is mainly due to the price appreciation of Bitcoin since those inflows arrived, plus a few small items such as accrued cash, fees, and rounding. Net inflows are historical costs; AUM is marked-to-market.

Fidelity’s FBTC and Bitwise’s BITB saw smaller gains of $29.5 million and $38.4 million, respectively, while Grayscale’s GBTC posted $16 million in net inflows after prolonged outflows. The renewed inflows arrived as Bitcoin surpassed $97,000 on May 2, drawing attention to the feedback loop between spot prices and ETF demand. The gap between the largest issuers remains wide. While BlackRock and Fidelity benefit from deep distribution networks, smaller players such as Valkyrie and VanEck recorded little or no daily flow. Competitive pressures may grow as Grayscale considers pricing adjustments to stem outflows and maintain relevance in a rapidly maturing ETF landscape.