The US spot Bitcoin exchange-traded funds (ETFs) market has witnessed a consistent inflow streak, a trend not seen since February. Data from Farside Investors reveals that starting from May 13, 2024, spot Bitcoin ETFs have experienced a 13-day inflow streak. This sustained influx of capital into the ETF ecosystem showcases investors' confidence in Bitcoin's potential, despite the cryptocurrency's failure to reach a new all-time high.

The launch of the US spot Bitcoin ETFs on January 11 initially saw significant outflows exceeding $52 million in the first two trading days. This outflow was primarily driven by investors shifting their assets from Grayscale's GBTC to the newly introduced ETFs. While the nine newly launched ETFs initially experienced mixed inflows and outflows, the situation shifted towards consistent inflows surpassing outflows by late January. This trend continued until mid-February, resulting in a 17-day inflow streak that brought substantial capital into the ETFs.

Following the peak of Bitcoin's price at $73,700 in mid-March, investors began to take profits, leading to a slight decrease in inflows. April witnessed more outflow days than inflows, coinciding with a broader downturn in the crypto market as investors sought to realize their gains. This negative trend extended into May, with the first day of the month witnessing collective outflows exceeding $563 million across all US spot Bitcoin ETFs.

However, since the ETF downturn on May 1, the market has seen a 13-day inflow streak, with occasional outflows from individual funds. Notably, Ark Invest's ARKB experienced outflows of around $100 million, but the inflows into other funds surpassed this, resulting in a net inflow of $48.8 million. May has proven to be a positive month for the spot Bitcoin ETF market, with recent developments positioning BlackRock's IBIT as the world's leading ETF by assets under management, surpassing GBTC.

Furthermore, the global spot Bitcoin ETF market now holds over one million BTC, indicating a growing interest and confidence in Bitcoin as an investment asset. Despite market volatility and occasional outflows, the sustained inflow streak in the US spot Bitcoin ETF market reflects a continued appetite for exposure to Bitcoin among investors, underscoring the cryptocurrency's enduring appeal in the financial landscape.