According to Bloomberg ETF analyst Eric Balchunas, the Bitcoin spot ETF market is demonstrating that Boomers are proving to be more resilient hodlers than initially anticipated.

Balchunas shared these insights recently, highlighting the positive flows in spot Bitcoin ETFs. In a social media post, he noted that US spot Bitcoin ETFs remained robust despite a phase marked by outflows.

Bitcoin Price Struggles and ETF Resilience

During the past month, Bitcoin’s price experienced a significant drop and struggled to recover. However, data from July 2 shows that spot ETFs had positive flows over daily, weekly, and monthly time frames.

In June, Bitcoin’s price faced downward pressure due to news of Mt. Gox’s upcoming $9 billion repayments and miner and government-related selling. Miners offloaded over 30,000 BTC post-halving, and significant amounts of BTC were moved to crypto exchanges by the German and US governments.

Despite these challenges, Bitcoin failed to maintain a price above $70,000 even with a record $886 million in inflows on June 4. Over the month, despite Bitcoin’s price struggles, ETFs year-to-date net flows remained around $14.6 billion. Currently, Bitcoin hovers around $63,000.

“Was surprised to check in on the Bitcoin ETFs and see they actually had net positive flows for 1D, 1W, and 1M. Was expecting worse given BTC price fell $10k. During that stretch, YTD net flow held steady at +14.6b. Good sign that number held strong during a ‘step back’ phase.”

Boomers as Better HODLers?

Balchunas also commented on what the spot Bitcoin ETFs market and BTC price performance suggest. He noted that the prediction of Bitcoin price and flows being a “two steps forward, one step back” situation appears to be accurate.

Another key observation is that Boomers are proving to be better hodlers than the crypto market initially thought. By not selling their holdings during the “setback,” this group of ETF buyers is showing resilience and a bullish outlook on the asset.

This behavior contrasts with younger generations, who might be more affected by short-term price fluctuations. Boomers seem to view Bitcoin as more than just “orange poker chips,” indicating a long-term investment perspective.

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