Bitcoin ETFs, Whales and Retail Holders – Here’s What’s Happening

• Interest in Bitcoin ETFs has increased, which is also indicated by the skyrocketing cash flow.
• Whale interest in BTC also increased as retail investors took profits

Bitcoin (BTC) has been stagnant around the $67,000 level for some time now. And yet, interest in BTC has not diminished. In fact, recent data suggests that, on the contrary, interest in BTC ETFs has skyrocketed in recent days.

Bitcoin ETF inflows on the rise

Bitcoin spot ETFs continued to attract investors on May 31, with total net inflows of $48.74 million. This is the 14th consecutive day of net inflows for these funds, indicating continued investor interest in exposure to Bitcoin through financial products available on fiat markets.

However, the flows have not been distributed evenly across all Bitcoin spot ETFs. Grayscale’s GBTC saw net outflows of $124 million, while BlackRock’s IBIT and Fidelity’s FBTC saw inflows of $169 million and $5.9047 million, respectively. This suggests that investors are shifting their preferences in favor of new entrants to the Bitcoin spot ETF market.

Source: sosovalue

The growing interest in BTC ETFs indicates that users who are not primarily from the crypto space per se have also shown interest in the cryptocurrency. If this trend continues, it could lead to BTC becoming even more mainstream, also fueling greater adoption.

At press time, Bitcoin was trading at $67,732.76, with the price increasing by 1.43% in the last 24 hours. BTC speed has decreased significantly during this period, indicating a slowdown in BTC transfers. This also implied that most addresses were willing to hold their BTC.

Source: Santiment

AMBCrypto’s analysis of Santiment data also revealed that whale interest in BTC has increased significantly over the past few days. High interest in whales may drive the price of BTC even higher in the future. However, retail interest in BTC declined significantly over the same period, indicating that not all holders were as bullish.

Read Bitcoin (BTC) Price Prediction 2024-25

If retail investors continue to sell their holdings, this could lead to downward pressure on the BTC price charts.

Source: Santiment

Another factor that could impact the selling pressure on BTC would be the state of the miners.

According to recent data, miners’ income has fallen in recent weeks. Miners are expected to sell their holdings to remain profitable – contributing to increased selling pressure on BTC.

Source: Blockchain