Spot Bitcoin ETFs see weak $5M inflow even as Bitcoin hit $105k

Spot Bitcoin ETFs slowed down between May 6 and May 12, with modest activity on Monday reflecting a calmer start to the week.

Daily net flows remained muted after a large $85.7 million outflow on May 6, culminating in a marginal inflow of just $5.2 million on May 12. Bitcoin’s price, on the other hand, increased from $96,825 on May 6 to $104,405 by May 12.

Table showing spot Bitcoin ETF flows from Apr. 24 to May 12, 2025 (Source: Farside)

While the drop in inflows might appear concerning, the broader context points to a healthy market pause rather than a deterioration in institutional appetite. Late April and early May saw record-breaking ETF activity that propelled Bitcoin above $100,000.

The current price and ETF environment are more indicative of a consolidation of positions, with inflows stabilizing rather than reversing amid ongoing macro tailwinds.

The relatively soft flows at the beginning of the week likely stemmed from two factors: Bitcoin’s price hovering near psychological levels, encouraging short-term profit-taking, and a natural cooling period after weeks of aggressive institutional accumulation.

Despite the brief pullback, ETF flows remained net positive for the period, underlining that institutional investors have not exited but are recalibrating after April’s surge.

If Bitcoin can hold above the $100,000 threshold, even modest inflows could be enough to maintain bullish momentum. However, a prolonged absence of larger institutional bids could leave the market more vulnerable to volatility as it consolidates near record territory.

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