The U.S. spot bitcoin exchange-traded fund market maintained its upward momentum on Monday, marking a third consecutive session of positive flows for the asset class as the underlying cryptocurrency rose back above $80,000. 

The funds attracted $532.2 million in net inflows on May 4 and have added a combined $1.18 billion in capital over the last three trading days, following inflows of $629.7 million on May 1 and $14.8 million on April 30, according to SoSoValue data. 

BlackRock’s IBIT led Monday’s session with $335.5 million in net inflows, while Fidelity’s FBTC added $184.6 million. Morgan Stanley's MSBT rounded out the three funds that posted inflows, adding $12.2 million. 

The remaining 10 funds, including Grayscale’s GBTC and Franklin Templeton’s EZBC, reported zero flows for the day, with no products posting outflows.

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As of Monday, the cumulative total net inflow into the 13 spot bitcoin ETFs stands at $59.3 billion. The total net assets held by these funds has reached $106.4 billion, which represents 6.7% of bitcoin's total market capitalization.

The increase in fund participation occurred as bitcoin regained the $80,000 mark early Monday, a move that technical analysts cited as a breach of a major psychological resistance zone. 

The world’s foremost cryptocurrency (BTC) is currently changing hands for around $80,630, gaining 1.1% in the last 24 hours, according to The Block’s BTC price page.

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Meanwhile, U.S. spot ether ETFs recorded $61.3 million in net inflows on Monday, again led by BlackRock and Fidelity.

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