Bitcoin ETFs post $2.75B in weekly inflows as price sits above $108K
US-based spot Bitcoin exchange-traded funds (ETFs) experienced $2.75 billion in inflows this week, significantly higher than the previous week's $608 million. Bitcoin surpassed its January all-time high of $109,000, reaching a new peak of $111,970. On May 23, spot Bitcoin ETFs recorded $211.7 million in inflows, with BlackRock’s IBIT gaining $430.8 million and extending its inflow streak to eight days. Grayscale’s GBTC led outflows at $89.2 million, followed by ARK 21Shares’ ARKB with $73.9 million. Bitcoin is currently trading at $108,141, with a decline in market sentiment reflected in the Crypto Fear & Greed Index, which dropped to a score of 66. Spot Bitcoin ETFs have accumulated approximately $5.39 billion in May, approaching the monthly inflow record of $6.49 billion from November 2024. Analysts indicate that Bitcoin shows no signs of overheating, with low funding rates and limited profit-taking by short-term investors.
