Bitcoin Spot ETFs Ripped $2.75B This Week

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A new report from Farside revealed that spot Bitcoin (BTC) ETFs pulled in nearly $2.75 billion this week, nearly 4.5 times last week’s $608 million haul as prices breached $109,000, a high not seen since January.

Specifically, the report, which covered May 19 to 23, stated that the Bitcoin ETFs pulled in $2.12 billion. However, the report, which was written in Chinese, may not have fully accounted for all the ETF flows.

According to another report by TokenInsight, the total inflow into the spot Bitcoin ETFs this week was $2.75 billion. Of this amount, $431 million flowed into BlackRock’s IBIT, extending its inflow streak to eight days.

On the other hand, Grayscale’s GBTC saw an outflow of $89 million and ARK 21Shares’ ARKB had an outflow of $74 million. Overall, it seems that investors prefer the low fees and wide reach of the biggest funds.

The report also noted that the crypto fear & greed index dropped from 78, which indicated extreme greed, to 66, or greed, on Monday. This was a sign that some investors were booking profits as the rally slowed.

CryptoQuant analyst Crypto Dan also said on Monday that “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.” This indicated that the rally wasn’t driven by risky bets.

So far in May, spot bitcoin ETFs have pulled in about $5.40 billion. The previous monthly high came in November 2024, when ETFs took in $6.50 billion.

With five trading days left in May, it appears that the bitcoin ETFs could be setting a new record for monthly inflows. This persistent demand highlights how exchange-traded funds have become the preferred avenue for many to gain exposure to bitcoin without needing to personally manage wallets and private keys.

The demand for spot bitcoin ETFs has been expanding rapidly as investors opt for accessible and regulated products. Among the major issuers, BlackRock, the world’s largest asset manager, stands the best chance of remaining at the forefront.

As for bitcoin itself, if the sentiment lessens, we might witness a slight pullback in prices. Nonetheless, with such substantial institutional flows, many anticipate further potential for the cryptocurrency to rise.