Bitcoin ETFs post $2.75B in weekly inflows as price sits above $108K

US-based spot Bitcoin exchange-traded-funds (ETFs) person recorded a full of $2.75 cardinal successful inflows this week amid Bitcoin surpassing its January all-time precocious of $109,000.

The $2.75 cardinal inflow full was astir 4.5 times larger than the spot Bitcoin (BTC) ETF’s erstwhile week’s $608 cardinal successful inflows, according to Farside data.

BlackRock Bitcoin ETF continues inflow streak

On May 23, the last time of the trading week, spot Bitcoin ETFs recorded $211.7 cardinal successful inflows. However, BlackRock’s IBIT was the lone money to station gains successful the trading day, adding $430.8 cardinal and extending its inflow streak to 8 consecutive days.

Grayscale’s GBTC led outflows with $89.2 million, followed by ARK 21Shares’ ARKB with $73.9 million.

Just 2 days before, connected May 21, the Bitcoin ETFs saw $607.1 cardinal successful inflows, the aforesaid time Bitcoin surpassed its $109,000 all-time high. The pursuing day, Bitcoin recorded a caller all-time precocious of $111,970.

At the clip of publication, Bitcoin is trading astatine $108,141, according to CoinMarketCap data.

Bitcoin is trading astatine $108,490 astatine the clip of publication. Source: CoinMarketCap

Bitcoin’s flimsy terms diminution implicit the past 24 hours came alongside a diminution successful crypto marketplace sentiment, according to the Crypto Fear & Greed Index.

The Index, which measures wide crypto marketplace sentiment, reads a “Greed” people of 66, down 12 points from its “Extreme Score” of 78 the erstwhile day.

Related: Bitcoin terms ‘breather’ expected arsenic short-term traders recognize $11.6B successful profit

Cointelegraph precocious reported that spot Bitcoin ETFs are connected its mode to perchance surpassing its monthly inflow grounds of $6.49 cardinal from November 2024. So acold successful May, spot Bitcoin ETFs person accumulated astir $5.39 billion, with 5 trading days remaining successful May.

Meanwhile, respective analysts precocious suggested that Bitcoin is not showing immoderate signs of overheating contempt reaching caller all-time highs this week, pointing to fundamentals suggesting that Bitcoin could emergence further.

CryptoQuant expert Crypto Dan said connected May 22, “Overheating indicators specified arsenic the backing complaint and short-term superior inflow stay debased compared to erstwhile peaks, and profit-taking by short-term investors is limited.”

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