ETF Inflows Surge as Bitcoin Reclaims $100,000—But Caution Creeps Into Options

Beincrypto
Updated
Mitrade
coverImg
Source: DepositPhotos

Spot Bitcoin ETFs registered another consecutive day of inflows on Thursday, coinciding with the coin’s rally back above the $100,000 mark for the first time since February. 


None of the major ETFs saw outflows during yesterday’s session, confirming the renewed institutional confidence in the asset’s long-term trajectory.


Bitcoin ETFs See Another Day of Inflows


Yesterday, Bitcoin-backed ETFs recorded a net inflow of $117.46 million, down 17% from the previous day’s $142.31 million. While the slight dip may reflect profit-taking after BTC surged past the $100,000 mark, the continued inflows still signal growing investor confidence in the leading cryptocurrency.


Total Bitcoin Spot ETF Net Inflow.


Total Bitcoin Spot ETF Net Inflow. Source: SosoValue


On Thursday, BlackRock’s iShares Bitcoin Trust (IBIT) led the trend, posting the highest daily inflow among all ETF issuers. The fund recorded a net inflow of $69 million for the day, pushing its total historical net inflow to $44.35 billion.


Fidelity’s ETF, FBTC, came in second with a daily net inflow of $35.34 million. Its total historical net inflow now stands at $11.67 billion.


Notably, none of the 12 ETFs logged net outflows yesterday. 


BTC Rally Fuels Futures Frenzy


BTC’s break above the psychological six-figure threshold during Thursday’s trading session has reignited bullish momentum across markets. 


This is reflected by the coin’s futures open interest, which currently stands at $67.45 billion and has climbed 5% over the past day. When an asset’s open interest climbs alongside its price, new money is entering the market to support the trend, indicating strong bullish momentum.


BTC Futures Open Interest.


BTC Futures Open Interest. Source: Coinglass


Moreover, BTC’s funding rate has soared to its highest level since February 28, reflecting a multi-month high demand for long positions among futures traders. As of this writing, the metric is at 0.0109%.


BTC Funding Rate


BTC Funding Rate. Source: Coinglass


A high funding rate like this means traders holding long positions are paying a premium to remain in the trade, which can reinforce bullish sentiment in the BTC market in the short term. 


However, while ETF investors and futures traders appear to be leaning bullish, the options market shows signs of caution. Data indicates a growing demand for downside protection, with increased activity around put options.


BTC Options Open Interest.


BTC Options Open Interest. Source: Deribit


The mixed sentiment could shape short-term price action as markets digest BTC’s rally above $100,000 and assess whether it can continue.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Bitcoin Profit Taking Explodes: 12x More Gains Than Losses Hitting ExchangesOn-chain data shows the ratio between the Bitcoin profit and loss being sent to exchanges is approaching euphoric bull market levels.
Author  Bitcoinist
May 30, Fri
On-chain data shows the ratio between the Bitcoin profit and loss being sent to exchanges is approaching euphoric bull market levels.
placeholder
ADA and AVAX share bearish outlooks after the SEC delays ETFsCardano (ADA) and Avalanche (AVAX) are down 5% to 8% in the last 24 hours, respectively, at press time on Friday, in the aftermath of the US Securities and Exchange Commission (SEC) delaying the decission over the Cardano and Avalanche Exchange Traded Funds (ETFs) filings on Wednesday.
Author  FXStreet
May 30, Fri
Cardano (ADA) and Avalanche (AVAX) are down 5% to 8% in the last 24 hours, respectively, at press time on Friday, in the aftermath of the US Securities and Exchange Commission (SEC) delaying the decission over the Cardano and Avalanche Exchange Traded Funds (ETFs) filings on Wednesday.
placeholder
Bitcoin Selling Pressure Weak As Binance Inflows Stay Subdued – Can BTC Sustain Its Rally?Bitcoin (BTC) continues to trade close to its new all-time high (ATH) of $111,980, set earlier this week.
Author  NewsBTC
May 30, Fri
Bitcoin (BTC) continues to trade close to its new all-time high (ATH) of $111,980, set earlier this week.
placeholder
Top 3 Price Prediction: BTC slips below key support, ETH and XRP show bearish cuesBitcoin (BTC) trades below $106,000 on Friday after slipping below a crucial support level, increasing the likelihood of a deeper correction.
Author  FXStreet
May 30, Fri
Bitcoin (BTC) trades below $106,000 on Friday after slipping below a crucial support level, increasing the likelihood of a deeper correction.
placeholder
XRP Price Slips Again — Is a Deeper Correction Underway?XRP price started a fresh decline below the $2.280 zone. The price is now correcting losses and might aim for a move above the $2.250 resistance. XRP price started a fresh decline below the $2.280
Author  NewsBTC
May 30, Fri
XRP price started a fresh decline below the $2.280 zone. The price is now correcting losses and might aim for a move above the $2.250 resistance. XRP price started a fresh decline below the $2.280
Real-time Quote