Bitcoin spot ETFs in the United States continue to record strong fund inflows as investors aggressively buy the crypto asset again after Bitcoin’s price surged past $80,000.
At the time of writing, Bitcoin’s price is at $81,054, up 0.02% since it opened early Thursday in Asian trading.
In just two trading days, the Bitcoin ETF has attracted nearly $1 billion in new inflows.
On Tuesday, the fund recorded an inflow of $467.4 million after Bitcoin surged past $81,000, adding to the $532 million inflow recorded the day before.
Overall, the inflows reached over $999 million.
This performance comes after Bitcoin ETFs recorded a net inflow of $1.97 billion in April, indicating that investor demand for Bitcoin remains very strong despite the market’s continued volatility.
Since May 1, the total Bitcoin ETF fund has received about $1.63 billion in inflows, bringing the total accumulated funds to about $59.7 billion.
Assets under management (AUM) also rose to about $109 billion, the highest level so far this year.
Interestingly, this inflow has occurred despite Strategy executive chairman Michael Saylor hinting that the company may sell some of its Bitcoin holdings to meet corporate commitments.
The statement is seen as contradicting his long-standing stance known as the “will not sell Bitcoin” slogan.
According to Bloomberg ETF analyst Eric Balchunas, the resilience of the Bitcoin ETF inflows is remarkable because it occurred despite Bitcoin having fallen by almost 50% in previous market cycles.
However, the ETF has only experienced withdrawals of about 8% of its total assets.
He explained that the ETF structure has opened up greater access to Wall Street institutional investors, thus helping to maintain demand for Bitcoin despite highly volatile price movements.
