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This week, spot Bitcoin ETFs made $2.75 billion. That’s nearly four times the $608 million they earned last week. Prices rose past $109,000 to a new high. Bitcoin reached $111,980 as recently as May 22. As the rally gained momentum, investors piled into bitcoin.
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Bitcoin ETFs Inflows Soar
As per Farside dataThis week spot Bitcoin ETFs attracted $2.75 billion, a sharp increase from the $608 million they had drawn in the previous week. Bitcoin’s recent all-time record high of $109,000 triggered the big increase.
Bitcoin reached a new high on May 21. Next, the coin rose to $111980 on May 22. Money is chasing new heights.
BlackRock IBIT leads flows
According to reports, ETF flow on May 23, totaled only $212 millions, and BlackRock IBIT was the sole one that showed a profit. The IBIT’s inflow streak now stands at eight straight days. It received $431 million by itself.
Grayscale’s GBTC lost 89 millions, while ARK 21Shares ARKB saw a loss of $74million. The low fees of large funds and their wide distribution seem to be attractive for investors.
Market sentiment pulls back
The rise of Bitcoin slowed a bit. As of the publication date, Bitcoin was nearing $108,150. The Crypto Fear & Greed Index slid from an “Extreme Greed” The reading from 78 to “66” or “Greed.” This dip suggests some profit taking.
CryptoQuant’s Crypto Dan, a CryptoQuant analyst, said that on May 22, “overheating indicators such as the funding rate and short-term capital inflow remain low compared to previous peaks, and profit-taking by short-term investors is limited.” He believes that the rally is not driven by high-risk bets.
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The Record Inflows of the Month Are In Sight
As of May so far, there are no spots available. Bitcoin ETFs The ETFs have brought in approximately $5.40 billion. Previous monthly records were set in November 2024 when ETFs received $6.50 billion.
Inflows are expected to reach new heights in the remaining five days of May. This steady demand shows how ETFs are the preferred way to buy Bitcoin for those who don’t want to deal with private keys and wallets.
The demand for Bitcoin spot ETFs is growing rapidly. Investors are attracted to simple products that adhere to regulations. BlackRock and the big issuers have the best chances to remain on top.
Bitcoin’s price could fall a bit if sentiments cool. Many see more room for growth, but with the strong institutional flow.
Chart from TradingView, with image by Gemini Imagen
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Source: www.newsbtc.com
