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▲ Bitcoin (BTC)
As Bitcoin (BTC) surpassed $80,000 again, $999 million poured into U.S. spot Bitcoin ETFs in two days, with institutional funds re-emerging as a key driver of the price rebound.
According to crypto media outlet Cointelegraph on May 6 (local time), U.S. spot Bitcoin ETFs recorded a net inflow of $467.4 million on Tuesday alone. Following a net inflow of $532 million on Monday, the cumulative inflow over two days exceeded $999 million. This trend emerged as Bitcoin recovered above $80,000 and then broke past $81,000.
The recent influx is a strong demand trend that followed a total net inflow of $1.97 billion in April. Since May 1, a total of $1.63 billion has flowed into spot Bitcoin ETFs, increasing the cumulative net inflow to $59.7 billion. Total assets under management reached approximately $109 billion, marking the highest level this year.
This inflow continued even as Michael Saylor, Chairman of the Strategy board, hinted at the possibility of selling Bitcoin to fulfill corporate obligations. Cointelegraph reported that Bitcoin ETF fund flows showed resilience despite Saylor's comments, which differed from his previous message of long-term Bitcoin holding.
Bloomberg ETF analyst Eric Balchunas stated that while Bitcoin fell by approximately 50% in this cycle, only about 8% of assets flowed out of ETFs. In a Tuesday interview with Roxom TV, he mentioned that the Wall Street sales network had opened due to the product's structure, saying, “Do not underestimate the firepower of Wall Street's wholesale distribution network.”
Funds also flowed into altcoin spot ETFs. According to SoSoValue, Ethereum (ETH) funds recorded a net inflow of $97.6 million on Tuesday. XRP funds saw a modest net inflow of $11.3 million, and Solana (SOL) ETFs recorded $1.7 million. Dogecoin (DOGE) ETFs also saw an inflow of approximately $400,000, marking their first net inflow since April 27, with cumulative net inflows exceeding $10 million.
Cointelegraph reported that spot Bitcoin ETFs have stably maintained investor accessibility through traditional financial channels even during volatile market conditions. As Bitcoin rebounded and ETF inflows rapidly increased, institutional funds have once again become a key variable in the cryptocurrency market's recovery trend.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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