The U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded a total inflow of $2.75 billion this week, while the price of Bitcoin broke through the historical high of $109,000 set in January.
According to Farside data, this week's inflow of $2.75 billion is approximately 4.5 times the previous week's $608 million.
On May 23, the last trading day of the week, the spot Bitcoin (BTC) ETF recorded an inflow of $211.7 million. However, BlackRock's IBIT was the only fund to record growth that day, adding $430.8 million, marking eight consecutive days of inflows.
Grayscale's GBTC led with an outflow of $89.2 million, followed by ARK 21Shares' ARKB, which had an outflow of $73.9 million.
Just two days prior, on May 21, the Bitcoin ETF recorded an inflow of $607.1 million, coinciding with Bitcoin's price breaking the historical high of $109,000. The next day, Bitcoin set a new historical high of $111,970.
As of the time of writing, the trading price of Bitcoin is $108,141, according to CoinMarketCap data.
The slight decline in Bitcoin's price over the past 24 hours has been accompanied by a decrease in crypto market sentiment, as indicated by the Crypto Fear & Greed Index.
This index measures the overall sentiment in the crypto market and currently shows a "greed" score of 66, down 12 points from the previous day's "extreme score" of 78.
Cointelegraph recently reported that spot Bitcoin ETFs are expected to surpass the monthly inflow record of $6.49 billion set in November 2024. As of May, spot Bitcoin ETFs have accumulated approximately $5.39 billion, with five trading days remaining in May.
Meanwhile, several analysts have recently stated that despite Bitcoin reaching a new historical high this week, there are no signs of overheating. They pointed out that the fundamentals suggest Bitcoin may rise further.
CryptoQuant analyst Crypto Dan stated on May 22: "Overheating indicators such as funding rates and short-term inflows are still low compared to previous peaks, and profit-taking among short-term investors is also limited."
Related: As Bitcoin (BTC) price falls below $111,000, open interest hits an all-time high
Original article: “Bitcoin (BTC) ETF Weekly Inflows Reach $2.75 Billion, Price Maintains Above $108,000”
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