Spot Bitcoin exchange-traded funds (ETFs) in the United States have experienced a remarkable surge in inflows, raking in $2.75 billion over the past week as Bitcoin prices hover above the $108,000 mark. The influx of funds marks a renewed investor interest and the strongest inflow performance in a single week in over a month.
Bitcoin ETFs Post Record Week of Inflows
According to data from Farside Investors, the $2.75 billion in inflows is nearly 4.5 times higher than the $608 million recorded the previous week. This robust investment flow comes as Bitcoin surpassed its previous all-time high of $109,000, set in January, and touched a new peak of $111,970 during the week.
The performance highlights a significant rebound in confidence toward spot Bitcoin ETFs, which had not seen a full week of continuous daily inflows in the past four weeks. The surge is likely bolstered by strong institutional interest and growing optimism about Bitcoin’s longer-term fundamentals.
BlackRock’s IBIT Leads with Consecutive Gains
Among the ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) stood out with the highest single-day inflow. On the final trading day of the week, 23 May, IBIT recorded $430.8 million in inflows, continuing its streak to eight consecutive trading days. It was the only ETF to post gains on the day.
In contrast, Grayscale’s Bitcoin Trust (GBTC) led the outflows with $89.2 million, while the ARK 21Shares Bitcoin ETF (ARKB) followed closely behind, losing $73.9 million.
Bitcoin is trading at $108,490 at the time of publication. Source: CoinMarketCap
Despite daily fluctuations, the general trend for most ETFs over the week was positive, with large institutional players clearly favouring Bitcoin exposure through these regulated investment vehicles.
Bitcoin Price Remains Volatile but Strong
At the time of publication, Bitcoin is trading at $108,141, as per CoinMarketCap data. Though slightly lower than the week’s peak, the digital asset remains comfortably above the key psychological level of $100,000.
The moderate price retreat over the past 24 hours has been accompanied by a dip in market sentiment. The Crypto Fear & Greed Index, a barometer of investor sentiment across the crypto market, dropped to a “Greed” score of 66, down from an “Extreme Greed” reading of 78 the day before. The shift suggests a cautious tone returning to the market despite bullish price action.
Monthly Inflow Record in Sight
With five trading days left in the month, spot Bitcoin ETFs are on track to potentially break their previous monthly inflow record of $6.49 billion, set in November 2024. So far in May, these ETFs have accumulated approximately $5.39 billion in inflows.
The performance is being seen as a strong sign of increasing investor appetite for Bitcoin-related products, especially from institutions seeking regulated exposure. Analysts suggest that a record-breaking month could further validate Bitcoin’s role as a mainstream financial asset.
Analysts Dismiss Overheating Concerns
Despite the rapid price surge and significant capital inflow, several analysts have stated that Bitcoin does not appear to be overheating. According to CryptoQuant analyst Crypto Dan, indicators that traditionally signal market overheating—such as elevated funding rates or extreme short-term inflows—remain subdued compared to past market peaks.
Dan also noted that profit-taking by short-term investors is still relatively limited, suggesting that many holders are anticipating further gains. This assessment aligns with the broader sentiment among market participants, who view current levels as part of a larger bullish cycle rather than a speculative bubble.
Outlook Remains Bullish
The week’s developments have reaffirmed Bitcoin’s resilience and growing appeal as a store of value and investment asset. With strong ETF inflows, institutional backing, and relatively stable fundamentals, analysts believe the cryptocurrency has room for further growth—even after setting a new all-time high.
As May draws to a close, the market will be watching closely to see if Bitcoin ETFs can break their monthly inflow record and if Bitcoin can maintain its momentum. While short-term corrections are likely, the longer-term outlook remains bullish, supported by increasing institutional participation and solid investor demand.
