Bitcoin exchange-traded products pulled in $706 million last week. Crypto funds logged their sixth consecutive week of inflows, the longest streak since the summer. Total flows over the run reached $4.9 billion. Assets under management in crypto ETPs crossed $160 billion, the highest level since February.
Sentiment lifted as US Congress edged closer to clarity on stablecoin regulation. The CLARITY Act compromise, released on the first of May, appears to have shifted positioning. Bitcoin broke through $80,000 during the week. The rally stalled by Thursday as profit-taking accelerated.
Bitcoin ETF inflows extend the run
Aggregate crypto ETP inflows reached $858 million for the week, sharply up from $118 million the week prior, according to CoinShares. Bitcoin ETF inflows accounted for the bulk of the flow. Year-to-date, Bitcoin products have now recorded $4.9 billion in net inflows.
Short-Bitcoin funds saw $14 million of outflows, the largest weekly exit of the year. The positioning shift suggests macro books are unwinding downside bets as the rally extends. Ethereum products reversed the previous week’s $81 million outflow, posting $77 million of inflows. Solana and XRP products attracted $48 million and $40 million respectively.
| Asset | Weekly Inflow ($M) | YTD Inflow ($M) |
|---|---|---|
| Bitcoin | 706 | 4,900 |
| Ethereum | 77 | — |
| Solana | 48 | — |
| XRP | 40 | — |
| Short-BTC | -14 | — |
Late-week selling caps the move
US-listed spot Bitcoin ETF inflows hit $623 million for the week after accounting for Thursday and Friday’s combined $423 million outflow, according to SoSoValue. Bitcoin dipped below $80,000 briefly on Thursday. Onchain data from CryptoQuant flagged realised profits of 14,600 BTC on Monday, equivalent to $1.1 billion. That marked the largest single-day profit-taking session since the tenth of December, when Bitcoin was trading above $90,000.
The fast money took profit as the move extended. Comments from corporate treasury desks about slowing Bitcoin purchases over recent sessions added to the reversal pressure. Positioning data suggests a portion of the rally was front-run ahead of expected large buyer flow that failed to materialise in size.
The trajectory from here
Six straight weeks of Bitcoin ETF inflows is a meaningful run. Assets under management in crypto products are back at February highs. The question is whether the legislative tailwind holds and whether retail flow follows institutional positioning. The profit-taking cycle that began mid-week suggests near-term resistance around current levels. The next catalyst is clarity on the final CLARITY Act text and whether corporate buyers re-enter.
Bitcoin has printed three-month highs. The short-Bitcoin funds are capitulating. The macro books are long. What breaks the consolidation is either another policy announcement or a break below $78,000 that flushes the positioning.
This article is for information purposes only and does not constitute investment advice. Readers should not act on any information contained here without first consulting an authorised financial adviser. Past performance is not a reliable indicator of future results.
