Investors Pour $2.75 Billion Into Bitcoin ETFs As Price Skyrockets
Spot Bitcoin ETFs attracted $2.75 billion in inflows this week, significantly up from $608 million the previous week. Bitcoin prices surpassed $109,000, reaching a peak of $111,980 on May 22. On May 21, investors contributed $607 million as Bitcoin hit a new high. BlackRock’s IBIT led the inflows with $431 million, marking eight consecutive days of positive inflows. In contrast, Grayscale’s GBTC and ARK 21Shares’ ARKB experienced outflows of $89 million and $74 million, respectively. Bitcoin's price stabilized around $108,150, with the Crypto Fear & Greed Index dropping from 78 to 66. Analysts noted that current market conditions do not indicate excessive risk-taking. For May, spot Bitcoin ETFs have accumulated approximately $5.40 billion, approaching the previous monthly high of $6.50 billion set in November 2024. The demand for regulated Bitcoin products continues to rise, with institutional interest suggesting potential for further price increases despite possible sentiment cooling.
