Inflows from spot bitcoin exchange-traded funds (ETFs) in May have made up for last month's outflows, according to an ETF analyst.

"The bitcoin ETFs have put together a solid two weeks with $1.3 billion in inflows, which offsets the entirety of the negative flows in April — putting them back around high water mark of +$12.3 billion net since launch," wrote Bloomberg's senior ETF analyst Eric Balchunas on the social media platform X.

Balchunas claims that the last two months exhibit why traders shouldn't get "emotional" over inflows and outflows; it's a "part of ETF life." He believes spot bitcoin ETF flows will show long-term net positives, adding that flow amounts on either side remain small, around 1% and 2%, compared to the funds' assets under management.

"It's never 'so over' or …