First Look at Spot-Bitcoin ETF Flows Points to ‘Organic’ Demand

Early signs are emerging that massive first-day trading volume for spot-Bitcoin ETFs is translating into substantial inflows.

While the complete flow data won’t be available until later Friday or by Tuesday, at least $720 million flooded into the 10 Bitcoin ETFs that began trading Thursday, Bloomberg data show. The first look at the inflows suggests that even outside of potential seed funding on the part of issuers, demand is strong for Bitcoin exposure in a physically backed ETF.

“It’s typical for only half of the actual flows to be reported on day one,” Bloomberg Intelligence senior ETF analyst Eric Balchunas ...