Bitcoin ETFs See $1.5 Billion Inflows Driving 19% Weekly Gain

Spot Bitcoin exchange-traded funds (ETFs) in the United States are on track to achieve a record-breaking month, driven by significant inflows that have pushed Bitcoin to new all-time highs. The US-listed spot Bitcoin (BTC) ETFs experienced over $1.5 billion in combined inflows over a two-day period, with $608 million on May 21 and $934 million on May 22.

If the inflows from the past two days continue at the same pace, the monthly inflows could surge to $6.68 billion, surpassing the previous monthly record of $6.49 billion set in November 2024.

These substantial ETF inflows have contributed to Bitcoin's rise to a new all-time high of $112,000 on May 22, before retracing to above $110,700 on May 23, marking an increase of over 19% in the past week.

The robust ETF inflows and Bitcoin's ascent to new all-time highs indicate growing institutional demand and rising realized profits without increased sell pressure. This trend suggests that Bitcoin is transitioning from being an alternative asset to becoming a benchmark asset.

Recent surges in ETF demand coincided with $1 billion worth of Bitcoin being withdrawn from Coinbase on May 9, a move analysts view as a signal of increasing institutional appetite.

According to Bitwise’s head of European research, André Dragosch, the structural inflows from institutions may help Bitcoin surpass the $200,000 base case before the end of 2025. Dragosch noted that if the US government steps in with direct Bitcoin acquisitions through budget-neutral strategies, the price could move closer to $500,000. Bitwise’s in-house prediction for 2029 is a $1 million Bitcoin price target, as Bitcoin’s market cap is expected to surpass the market capitalization of gold, the leading safe-haven asset.

However, gold’s market capitalization of $22.3 trillion is still over 10 times larger than Bitcoin’s $2.2 trillion, making BTC the world’s fifth-largest asset.