Bitcoin exchange-traded funds (ETFs) in the U.S. have experienced zero net inflows for the fourth time since their launch in January, as reported by data from Farside Investors. On May 27, spot BTC ETFs remained stagnant amidst a correction in the broader crypto market. This marks the first time in the past two weeks that Bitcoin ETFs have not seen any inflows.
Between May 13 and 24, BTC ETFs saw over $2 billion in net inflows. The total net inflows for the first half of May amounted to $1.3 billion, offsetting the outflows from April. Senior ETF Analyst at Bloomberg, Eric Balchunas, reassured investors on May 17 that short-term outflows in the ETF market should not be a cause for concern, emphasizing that BTC ETFs will yield positive long-term returns.
MicroStrategy founder Michael Saylor disclosed on May 27 that spot BTC ETFs now hold over 1 million BTC across 32 investment products, constituting approximately 5% of the asset’s circulating supply. BlackRock leads in BTC holdings in its ETF, with 287,168 BTC as of May 24, excluding GBTC shares.
Following the zero net inflows in spot ETFs, Bitcoin saw a 1.24% decline in price, currently trading at $67,900. It’s worth noting that BTC briefly reached an intraday high of approximately $70,590 around 17:25 UTC on May 27.
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