- Bitcoin ETFs recorded $46.33 million in total inflows on May 6.
- BlackRock’s IBIT pulled in $134.61 million while Fidelity, Grayscale, and Bitwise posted gains.
- Ethereum coins added $11.57 million, their fourth straight day of gains.
Bitcoin ETFs posted a total of $46.33 million on May 6, the fifth straight day of positive trading for the commodity group.
This figure pushed the cumulative total since its inception to $59.76 billion, with total assets in listed funds standing at $108.76 billion.
The buying spree cooled significantly from earlier in the month, with daily inflows exceeding $400 million in several quarters. Trading transactions across Bitcoin ETFs reached $2.11 billion per day, according to data from SoSoValue.
BlackRock’s IBIT Anchors Bitcoin ETFs Daily Tally
BlackRock Images iShares Bitcoin Trust (NASDAQ: IBIT ) was the main driver behind the daily average. The fund recorded $134.61 million in net income on May 6, equivalent to 1.65 thousand BTC. His net worth is now $1.05 billion.
Several other authors posted output that lowered the title number. Fidelity (CBOE: FBTC ) registered $38.95 million in exits, the largest withdrawal of the day among all Bitcoin ETFs.
Bitwise (NYSE: BITB ) tracked $25.18 million in inflows, while Grayscale (NYSE: GBTC ) saw $17.10 million out of the fund. Franklin Templeton (CBOE: EZBC) posted a short release of $7.05 million.
The rest of the stocks, 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 ), posted zero shares. Grayscale’s Bitcoin Mini Trust (NYSE: BTC ) also posted no moves on the day.
Daily Inflows Cool After Strong Start Through May
The May 6 figure is below the daily highs seen earlier in the week. On May 5, the fund made $467.35 million, while May 4 added $532.21 million and May 1 brought in $629.73 million.
The three business sectors alone accounted for more than $1.6 billion in new investment flows.
The increase in the economy increased from $ 58.72 billion on May 1 to $ 59.76 billion by May 6. The total economy has increased to more than $ 108 billion, from $ 103.78 billion at the beginning of the month and $ 99.27 billion on April 29.
The recent run of positive days is reversing the temporary pullback that occurred in late April. On April 29, the fund posted $137.77 million in outflows. April 30 saw revenue return to $14.76 million before May’s major surgery.
Weekly Bitcoin ETFs Move Over $1 Billion
During the week, Bitcoin ETFs pulled in $1.05 billion in the week ending May 6, a big jump from $153.87 million the previous week. The total sales for the week reached $8.32 billion in eleven sales.
Previous weekly entries 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 quiet at $22.34 million for total entries.
The May 6 weekly figure brings the volume of money flowing into Bitcoin ETFs back to the highest level since it was recorded in January 2024.
The weekend total reached $108.76 billion, the highest weekly closing figure for the commodity group.
Ethereum Coins Extend Their Fourth Straight Day of Gains
Ether-based transactions posted a total of $11.57 million on May 6, their fourth consecutive day of gains, according to SoSoValue.
Cumulative net entry for Ethereum Sales now stand at $12.19 billion, with total revenue of $14.01 billion.
Ethereum’s daily trading volume has moved less than its Bitcoin counterpart over the same period.
May 5 saw $97.57 million in admissions, May 4 added $61.29 million, and May 1 brought in $101.18 million. The trading volume on May 6 across the Ethereum currency amounted to $491.75 million.
The market capitalization of Bitcoin and Ethereum has now reached $71.95 billion, and the total assets under management in both groups exceed $122 billion.
