The US spot Bitcoin exchange-traded funds (ETFs) recorded a total inflow of $2.75 billion this week, as Bitcoin prices broke the historical high of $109,000 set in January.
According to Farside data, this figure is 4.5 times the $608 million inflow from the previous week.
BlackRock's Bitcoin ETF continues to grow.
On May 23, the spot Bitcoin ETF saw an inflow of $211.7 million that day, but only BlackRock's IBIT recorded gains, increasing by $430.8 million, maintaining inflows for eight consecutive days.
Grayscale's GBTC led the outflows with $89.2 million, while ARK 21Shares' ARKB experienced an outflow of $73.9 million.
Just two days ago on May 21, Bitcoin ETFs saw an inflow of $607.1 million, with Bitcoin breaking through $109,000 that day and reaching a new high of $111,970 the next day.
According to CoinMarketCap data, the trading price of Bitcoin at launch was $108,141.
According to the Crypto Fear & Greed Index, Bitcoin experienced a slight decline in the past 24 hours, accompanied by a decrease in market sentiment.
The current indicator is 'Greed' with a score of 66, which is 12 points lower than yesterday's 'Extreme' score of 78.
Related: With short-term traders taking profits, Bitcoin price adjustments are expected.
Cointelegraph recently reported that the spot Bitcoin ETF could surpass the monthly inflow record of $649 million set in November 2024. As of May, it has seen inflows of approximately $5.39 billion with five trading days remaining.
Several analysts pointed out that despite Bitcoin hitting a new high this week, the fundamentals show that Bitcoin has the potential to continue rising.
CryptoQuant analyst Crypto Dan stated, 'Overheating indicators such as fee rates and short-term capital inflows remain low compared to previous peaks, limiting short-term investors' profits.'
