- Bitcoin exchange-traded funds recorded total net inflows of $46.33 million on May 6.
- BlackRock’s IBIT generated $134.61 million, while Fidelity, Grayscale and Bitwise recorded outflows.
- Ethereum funds added $11.57 million, marking the fourth straight day of positive inflows.
Bitcoin ETFs recorded a total net inflow of $46.33 million on May 6, marking the fifth consecutive trading day of positive inflows for the product category.
This figure brought the cumulative net flows since its launch to $59.76 billion, with the total net assets across the listed funds reaching $108.76 billion.
The pace of buying slowed sharply from earlier in the month, when daily inflows topped $400 million in multiple sessions. Trading volume across Bitcoin exchange-traded funds reached $2.11 billion during the day, according to data from SoSoValue.
BlackRock’s IBIT anchors the daily balance of Bitcoin ETFs
Black Rock iShares Bitcoin Trust (NASDAQ:IBIT) was the main driver behind the daily number. The fund recorded net inflows of $134.61 million on May 6, equivalent to 1.65 thousand bitcoins. Its cumulative net flows now stand at $1.05 billion.
Several other issuers posted outflows that pushed down the headline figure. Fidelity (CBOE: FBTC) recorded outflows of $38.95 million, the largest intraday withdrawal across all Bitcoin ETFs.
Bitwise (NYSE: BITB) followed with $25.18 million in outflows, while Grayscale (NYSE: GBTC) saw $17.10 million leave the fund. Franklin Templeton (CBOE:EZBC) posted a smaller outflow of $7.05 million.
The remaining issuers, including Ark & 21Shares (CBOE: ARKB), VanEck (CBOE: HODL), Invesco (CBOE: BTCO), Valkyrie (NASDAQ: BRRR), Morgan Stanley (NYSE: MSBT), WisdomTree (CBOE: BTCW), and Hashdex (NYSE: DEFI), recorded zero net inflows for the session. Grayscale’s Bitcoin Mini Trust (NYSE: BTC) also did not record any movement on the day.
Daily flows are calming after a strong start to May
The May 6 figure is well below the daily totals seen earlier in the week. On May 5, the fund attracted $467.35 million, with May 4 adding $532.21 million, and May 1 adding $629.73 million.
These three trading sessions alone accounted for more than $1.6 billion in new capital flowing into the products.
Cumulative net flows increased from $58.72 billion on May 1 to $59.76 billion by May 6. Total net assets exceeded $108 billion, up from $103.78 billion at the beginning of the month and $99.27 billion on April 29.
The recent string of positive days mirrors the brief setback we saw at the end of April. On April 29, the funds recorded outflows of $137.77 million. April 30 saw flows return to $14.76 million before the largest increase began in May.
Weekly Bitcoin ETF inflows exceed $1 billion
On a weekly basis, Bitcoin ETFs It withdrew $1.05 billion for the week ending May 6, a sharp jump from $153.87 million the previous week. Trading volume for the week reached $8.32 billion across the eleven listed products.
Previous weekly numbers included $823.70 million for the week of April 24, $996.38 million for the week of April 17, and $786.31 million for the week of April 10. The first week of April was quieter with net inflows of $22.34 million.
The weekly figure released on May 6 brings cumulative net inflow into Bitcoin ETFs back to a record level since their listing in January 2024.
Total net assets at the end of the week were $108.76 billion, the highest weekly closing number on record for the product category.
Ethereum funds add their fourth straight day of inflows
Ether-based products posted a total net inflow of $11.57 million on May 6, the fourth straight day of positive inflows, according to SoSoValue.
Cumulative net flow Ethereum The products are now valued at US$12.19 billion, and total net assets are US$14.01 billion.
Ethereum’s daily flows have moved within a narrower range than their Bitcoin counterparts over the same period.
May 5 witnessed inflows worth $97.57 million, May 4 added $61.29 million, and May 1 brought in $101.18 million. Trading volume on May 6 across Ethereum funds reached $491.75 million.
The combined cumulative net flow across Bitcoin and Ethereum ETFs now stands at $71.95 billion, with total assets under management across both categories exceeding $122 billion.
