Spot Bitcoin ETFs draw nearly $1B as BTC tops $81,000

Spot Bitcoin exchange-traded funds recorded more than $999 million in inflows over Monday and Tuesday as Bitcoin climbed past $81,000, drawing $532 million on Monday and $467.4 million on Tuesday, SoSoValue data shows.

The two-day inflows follow $1.97 billion in net inflows in April and bring total inflows since May 1 to $1.63 billion. Cumulative inflows into spot Bitcoin ETFs now stand at $59.7 billion, with combined assets under management near $109 billion, the highest level so far this year.

Strategy executive chairman Michael Saylor signaled his firm may sell some Bitcoin to meet corporate obligations, departing from his previous “never sell Bitcoin” stance.

ETF analyst Eric Balchunas warned, ‘Don’t underestimate the firepower of Wall Street wholesalers,’ pointing to distribution networks that have expanded investor access to Bitcoin through ETF structures during volatile price moves.

Inflows extended to altcoin ETFs on Tuesday. Ether funds posted $97.6 million in inflows, XRP funds added $11.3 million, and Solana ETFs recorded $1.7 million. Dogecoin ETFs saw roughly $400,000 in inflows, their first gains since April 27, pushing DOGE cumulative inflows past $10 million and total assets under management to about $14 million.

During an earlier part of the cycle when Bitcoin experienced an approximate 50% drawdown, spot Bitcoin ETFs recorded outflows equivalent to about 8% of assets, according to the analyst.

Fund flows have been volatile on a daily basis. The recent multi-day inflows increased total ETF assets and raised combined assets under management for crypto exchange-traded products.