U.S. Spot Bitcoin ETFs Bought 5 Times the BTC Mined This Week

The U.S. spot Bitcoin ETFs are once again in the limelight amid soaring trading volumes reported this week. On Thursday, May 16, the spot Bitcoin ETF registered $257 million worth of net inflows, with GBTC recording inflows for the second consecutive day.

Bitcoin ETF Inflows Bounce Back This Week
After seeing some major outflows last week, the U.S. Bitcoin ETFs have bounced back strongly with over $657 million in inflows till Thursday. As per the on-chain data, the BTC ETFs have scooped a total of 11,188 Bitcoins which is nearly five times the Bitcoins mined. As of May 16, US Bitcoin spot ETFs witnessed a total net inflow of $257 million.

Hong Kong Bitcoin ETFs Have Lackluster Performance
The initial excitement surrounding Hong Kong’s first exchange-traded funds (ETFs) investing directly in cryptocurrency has fallen short compared to their US counterparts. Data from Bloomberg reveals that the total assets of the six Bitcoin and Ether ETFs have decreased by approximately $25 million from the initial $293 million gathered at their debut two weeks ago, indicating investor outflows.