Spot Bitcoin ETFs Ripped $2.75B This Week, Nearly 4.5x Last Week's Haul

Prices jumped past $109,000, a high not seen since January. Bitcoin even touched $111,980 on May 22. Investors piled in as the rally took hold.

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* Bitcoin price rose past $109,000, a high not seen since January.

* The flagship coin even touched $111,980 on May 22.

* As the rally took hold, investors piled into spot Bitcoin ETFs.

(Farside) - In the past week, spot Bitcoin ETFs saw outflows of $2.75 billion, nearly 4.5 times last week's $608 million, and the pace picked up noticeably as Bitcoin pushed past its January all-time high of $109,000, according to data from crypto analytics firm Farside.

On May 21, investors added $607 million, the same day Bitcoin hit a new peak. Afterward, on May 22, the coin went as high as $111,980. These large single-day additions show money chasing new highs.

After a period of minimal outflows, the world's largest cryptocurrency fund, BlackRock’s IBIT, saw outflows of just $212 million on May 23.

Among the biggest funds, IBIT was the only one in the green. It saw fresh inflows of $431 million, extending its streak to eight days.

Meanwhile, Grayscale’s GBTC saw outflows of $89 million, and ARK 21Shares’ ARKB saw outflows of $74 million. Overall, investors seem to prefer the low fees and wide reach of the biggest funds.

Bitcoin’s climb paused a bit from there, trading around $108,150 at press time.

The Crypto Fear & Greed Index also slid from an “Extreme Greed” reading of 78 to 66, or “Greed.” That dip could denote some profit-taking after the recent rally.

CryptoQuant analyst Crypto Dan said on May 22 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.”

His view is that this rally wasn’t characterized by risky bets, which could favor further gains.

So far in May, spot Bitcoin ETFs have seen net inflows of about $5.40 billion. The previous monthly high was in November 2024, when ETFs saw a total of $6.50 billion in inflows.

May now has five trading days left, and at this rate, they could easily push past that earlier peak. That persistent demand shows how ETFs have become the main way for many to gain exposure to Bitcoin without needing to personally handle wallets and private keys.

As the demand for spot Bitcoin ETFs grows rapidly and investors favor simple, regulated products, the biggest issuers, led by BlackRock, are best positioned to stay top of mind.

As for Bitcoin itself, if market sentiment cools, then some price pullback wouldn't be surprising. But with institutional flows so strong, many analysts see potential for further gains from here.