Terrorizing ETH! The Market Is Witnessing Massive Inflows


Total net inflows for spot Bitcoin ETFs on May 22 were $154 million, continuing eight consecutive days of positive inflows.

Meanwhile, the Grayscale Bitcoin Trust (GBTC) ETF experienced outflows of $16.0914 million. BlackRock's iShares Bitcoin Trust (IBIT) recorded daily inflows of $91.9527 million, and Fidelity's FBTC ETF recorded inflows of $74.572 million. Ark Invest's ARKB also recorded an inflow of $3 million.

Other ETFs, including Bitwise's BITB, VanEck's HODL, Galaxy Digital's BTCO, Valkyrie's BRRR, Franklin Templeton's EZBC, and WisdomTree's BTCW, showed no activity for the day, based on data compiled by SoSoValue.

The excitement in spot Bitcoin ETFs is linked to the recent increase in the price of BTC, which is up 5% over the past week. On May 21, BTC hit a six-week high of $71,600 before falling below the $70,000 level.

After several weeks of setbacks, this inflow reflects the growing acceptance of Bitcoin in the traditional financial world, with significant involvement from financial institutions.

K33 Research recently revealed that as of March 31, 937 professional firms in the United States have invested in the spot Bitcoin ETF market.

Among the largest investors are Millennium Management, a major hedge fund, and Susquehanna International Group (SIG), a global quantitative trading firm, with investments of $2 billion and $1 billion, respectively.

Significant investments also came from leading US banking firm Morgan Stanley and advisory firm Pine Ridge Advisers, totaling $269 million and $205.8 million respectively.

Amid the excitement surrounding the potential approval of the Spot Ethereum ETF by the US SEC, optimism in the crypto market has reached new heights. Meanwhile, a recent note from QCP Capital has reinforced this sentiment, predicting a rise in Ethereum price above $6,000 due to optimism about ETFs.