America’s suite of spot Bitcoin exchange-traded funds (ETFs) has notched a trio of fresh records this month, underscoring a powerful resurgence of institutional appetite for the world’s largest cryptocurrency.
$1.5 Billion Rolled In Within 48 Hours
Data from SoSoValue show the 11 U.S.-listed spot Bitcoin ETFs raked in US $1.54 billion in just two sessions (May 21–22), led by BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). If that pace persists, total May inflows will exceed $6.68 billion, toppling the previous monthly record of $6.49 billion set in November 2024. Cointelegraph
Single-Day Surge Signals Momentum
The torrent followed a $667.4 million one-day haul on May 19, the heaviest daily intake in nearly three weeks, as Bitcoin held firm above the psychologically important $100 k mark and basis-trade yields on CME futures approached 9 percent, luring macro and quant funds back into the trade. CoinDesk
Lifetime Net Flows Push Past $40 Billion
Earlier in the month, aggregate lifetime net flows across the category sailed to a new high of $40.3 billion (May 8), according to Bloomberg figures highlighted by ETF analyst Eric Balchunas. IBIT alone has swallowed more than 44 percent of that total, cementing its position among the top-ten U.S. ETFs by year-to-date flows across all asset classes. CryptoSlate
Record Weekly Trading Volume
Turnover has kept pace with inflows. More than $25 billion worth of shares changed hands across the products last week, the most since trading began in January 2024. Net inflows for the week hit $2.75 billion, a four-and-a-half-fold jump from the prior week. Cryptodnes.bg
What’s Driving the Stampede?
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Macro tailwinds: Cooling U.S. inflation and renewed hopes for a September Fed rate cut have buoyed risk assets.
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Regulatory clarity: With a full congressional vote looming on stablecoin legislation and bipartisan calls for clearer crypto rules, large asset managers say the policy backdrop is finally “investable.”
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All-time price highs: Bitcoin’s surge above $112,000 on May 22 briefly lifted its market cap above $2.2 trillion, enticing momentum-driven allocators. Cointelegraph
“Spot ETFs have turned Bitcoin into a mainstream macro asset you can model in a portfolio alongside gold and Treasuries,” said Stella Zlatareva, strategist at Nexo. “Once money starts benchmarking to the product, inflows become structural rather than tactical.” Cointelegraph
Market Share Snapshot
| Issuer (Ticker) | AUM (approx.) | Share of Category | Notes |
|---|---|---|---|
| BlackRock (IBIT) | $71 B | 3.3 % of circulating BTC | 30-day inflow streak, no significant outflows Cryptodnes.bg |
| Fidelity (FBTC) | $19 B | Second-largest | Solid but trails IBIT by 4× CryptoSlate |
| Grayscale (GBTC) | $15 B | Largest legacy conversion | Continues to bleed outflows but at a slower pace |
Looking Ahead
With just five trading days left in the month, analysts say the ETFs need average daily inflows of roughly $200 million to cement a new monthly record – a bar they have cleared in six of the past eight sessions.
Bitwise predicts cumulative ETF assets could swell to $120 billion by year-end if the current glide path holds, potentially drawing in sovereign wealth funds and corporate treasuries next. Cointelegraph
Still, veterans warn the asset’s notorious volatility – and headline risk around pending tax and custody rules – could temper enthusiasm. “Crypto winters start when fund flows stall,” said James Van Straten of CoinDesk Markets. “But right now, the heaters are still on.” CoinDesk
Background: The U.S. Securities and Exchange Commission green-lit the first batch of spot Bitcoin ETFs on January 10, 2024, after a decade of denials. Since launch, the products have amassed more assets in 16 months than gold ETFs did in their first three years, marking one of the fastest-growing segments in ETF history.