Bitcoin spot ETF saw net inflows of $131 million yesterday, with GBTC experiencing the largest outflows

According to SoSoValue data, on May 14 (US Eastern Time), Bitcoin spot ETFs recorded total net inflows of $131 million. BlackRock IBIT led with a single-day net inflow of $144 million, while Grayscale GBTC saw the largest single-day net outflow of $31.6357 million. On the same day, Ethereum spot ETFs recorded total net outflows of $5.6511 million.

Bitcoin Spot ETF Breakdown Data (May 14, US Eastern Time)

Net inflows:

BlackRock IBIT: Net inflow of $144 million (historical cumulative net inflow: $65.917 billion)

Bitwise BITB: Net inflow of $17.7038 million (historical cumulative net inflow: $2.086 billion)

Net outflows:

Grayscale GBTC: Net outflow of $31.6357 million (historical cumulative net outflow: $26.400 billion)

Summary metrics: Total net asset value $107.746 billion; ETF net asset ratio 6.61%; historical cumulative net inflow $58.630 billion

Ethereum Spot ETF Breakdown Data (May 14, US Eastern Time)

Net inflows:

Fidelity FETH: Net inflow of $6.8763 million (historical cumulative net inflow: $2.208 billion)

VanEck ETHV: Net inflow of $3.3667 million (historical cumulative net inflow: $167 million)

Net outflows:

BlackRock ETHA: Net outflow of $13.2125 million (historical cumulative net inflow: $11.863 billion)

Summary metrics: Total net asset value $13.453 billion; ETF net asset ratio 4.85%; historical cumulative net inflow $11.897 billion

Jane Street Q1 2026 Rebalancing: Dramatically Reduced Bitcoin, Ethereum Doubled

Jane Street significantly cut over 70% of its Bitcoin ETF holdings in the first quarter of 2026. It reduced Bitcoin-related products from firms including BlackRock, Fidelity, and Grayscale, while almost doubling its Ethereum holdings to $82 million for the same period. Jane Street is currently indicted for alleged market manipulation. Market analysts said the substantial reduction in Jane Street’s Bitcoin ETF holdings is viewed as a bullish signal. The reason is that the positions previously believed to have suppressed Bitcoin’s price have been significantly reduced, especially as Bitcoin is currently holding the key support level around $76,000.

FAQs

What does the Bitcoin spot ETF net asset ratio of 6.61% mean?

A net asset ratio of 6.61% means that the combined amount of Bitcoin held by all Bitcoin spot ETFs is equivalent to 6.61% of Bitcoin’s total global circulating market cap. This reflects the proportion of the Bitcoin held by institutions via the ETF channel relative to the overall market, and is an important indicator for measuring the depth of institutional allocation.

Why has GBTC’s historical cumulative net outflow already reached $26.4 billion?

After Grayscale’s GBTC was approved to convert to a spot ETF in January 2024, its management fee (1.5%) was far higher than competitors such as BlackRock IBIT (0.25%). As a result, many holders chose to move to ETFs with lower fee rates, causing GBTC to face ongoing net outflows in the long run.

Why is the reduction of Bitcoin ETF holdings by Jane Street seen by analysts as a bullish signal?

Jane Street has been indicted for alleged market manipulation. There were earlier speculations that its holdings and trading activities might have suppressed the price of Bitcoin. With Q1 holdings cut by more than 70%, analysts believe this potential short-pressure source has been significantly reduced, bringing a positive impact for Bitcoin’s outlook.