U.S. Spot Bitcoin ETFs Log Fifth Straight Week of Inflows as Institutions Return
U.S. spot Bitcoin exchange-traded funds posted net inflows for a fifth consecutive week as hedge positions in the derivatives market continue to be unwound, underscoring renewed institutional demand, CoinDesk reported.
Net inflows for the week ended May 6 totaled $1.05 billion, lifting cumulative inflows over the past five weeks to about $3.8 billion. SoSoValue data shows total net assets across U.S. spot Bitcoin ETFs climbed to a record $108.76 billion.
Bitcoin slipped 1.3% to around $81,100, after giving back earlier gains. CoinGecko data shows the pullback followed Wednesday's decline triggered by news of a peace agreement in Iran, after the price briefly touched a local high of $82,500.
Jeff Mei, Chief Operating Officer at Washington-based BTSE, said institutions are being drawn back by three factors: expectations that the Iran–Israel conflict may be resolved, AI-driven gains in equities, and the prospect of new cryptocurrency legislation. Mei said the upcoming CLARITY Act could be the biggest catalyst because it may lower regulatory barriers and support broader crypto adoption.
The continued inflow streak has coincided with shifting positioning in options and derivatives. Glassnode said Thursday that the 25-delta skew—a gauge of how much traders pay for put options or short hedges—is moving toward neutral across maturities, with the one-week skew nearing zero. After months of elevated put premiums, protections are being reduced rather than added, pointing to easing caution, the report said.
Glassnode analysts also noted Bitcoin has reclaimed two key on-chain thresholds: the Realized Market Mean at $78,200 and the Short-Term Holder Cost Basis at $79,100, meaning the price has moved above the average acquisition price of all active supply at the same time. The next major supply zone sits near the active realized price of $85,200.
Even after factoring in institutional hedging, ETF inflows remain structurally meaningful, according to Andri Fauzan Adziima, Head of Research at Bitrue Institute. He said some institutions hedge ETF exposure by selling perpetual contracts to run delta-neutral strategies, but the net effect still tightens spot demand relative to available supply—a sign of market maturation rather than a weakening of bullish signals.
Despite ongoing geopolitical uncertainty, Bitcoin has outperformed traditional assets and continues to be viewed as a hedge. Prediction market users tracked by Decrypt's parent company Dastan assign an 86% probability that Bitcoin's next major move would be toward $84,000 rather than $55,000.
