All US Bitcoin ETFs see daily inflows for the first time

All US spot Bitcoin ETFs register inflows for the first time

Bloomberg ETF analyst Eric Balchunas said baby boomers are better at owning ETF shares than crypto-native investors.

All U.S. physical Bitcoin exchange-traded funds (ETFs) recorded positive net inflows on March 6, according to Bloomberg ETF analyst Eric Balchunas. He shared that he is X and this is his first daily net flow.

Additionally, Balciunas said more than 95% of ETF investors held onto stocks during a “pretty troubling and persistent economic downturn.”

“As I said, there will be outflows and inflows, but over time two things tend to hold true for ETFs: net growth and relatively strong hands,” Bloomberg analysts said. Bloomberg analysts added.

This is the first time that the 1D flow is all green and no red is shown in the Bitcoin bunch. While we're not going to jump like some investors did during outflows, we will point out that over 95% of ETF investors held during a fairly troubling and sustained economic downturn. Will the same thing happen next time? pic.twitter.com/3l3uwwmqGy

— Eric Balchunas (@EricBalchunas) May 6, 2024

While responding to one of the comments, Balciunas also shared that from what he has seen so far, boomers are better holders than crypto natives. “This is a small hot sauce allocation for a crowd of 60-40 people, not their 'real portfolio.' This helps them withstand volatility.”

Furthermore, according to X user Lookonchain, the US Spot Bitcoin ETF added 4,412 BTC to its holdings, which is worth over $280 million. The largest Bitcoin additions were registered by Fidelity’s FBTC and ARK Invest’s ARKB, with inflows of 1,574 BTC and 1,200 BTC, respectively.

Cumulatively, US Bitcoin ETFs hold over $52 billion in Bitcoin or 821,736 BTC. Grayscale’s GBTC still leads the pack at 291,293 BTC as of this writing, with BlackRock’s IBIT close behind at 274,029 BTC.