US Bitcoin ETFs near record month after $1.5B inflows in 2 days
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. are experiencing record inflows, exceeding $1.5 billion over two days, with $608 million on May 21 and $934 million on May 22. This surge has contributed to Bitcoin reaching an all-time high of $112,000 on May 22, before settling above $110,700 on May 23, marking a 19% increase in one week. Analysts attribute this growth to rising institutional demand and a lack of sell pressure. A significant withdrawal of $1 billion in Bitcoin from Coinbase on May 9 indicates increased institutional interest. Predictions suggest Bitcoin could reach $200,000 by the end of 2025, contingent on U.S. government actions, with a long-term target of $1 million by 2029 as Bitcoin's market cap is expected to surpass that of gold. Currently, Bitcoin's market cap stands at $2.2 trillion, compared to gold's $22.3 trillion.
