Bitcoin Surges Past $100,000 on Institutional ETF Inflows

Bitcoin's price surged past the $100,000 mark on May 8, driven by a wave of institutional investment. Spot Bitcoin exchange-traded funds (ETFs) recorded significant net inflows, totaling $142.3 million on May 7, indicating sustained interest from institutional players such as hedge funds and asset managers. This trend was highlighted by the founder of Obchakevich Research, who noted the continued accumulation of Bitcoin through regulated financial instruments.
The ARK 21Shares Bitcoin ETF (ARKB) led the inflows with $54 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $39 million and BlackRock’s iShares Bitcoin Trust (IBIT) at $37 million. Notably,
acquired over 86 Bitcoin worth $8.4 million in a single transaction on May 7, underscoring the substantial interest from major .On May 8, the inflows into Bitcoin ETFs continued, reaching over $117 million.
led with $69 million, followed by FBTC with $35 million and ARKB with $13 million. The strengthening correlation between Bitcoin and tech stocks was also noted, with a correlation coefficient of 0.75 between Bitcoin and the Nasdaq. This positive sentiment in the tech market supported Bitcoin's growth above $100,000.Obchakevich pointed out that the trend of institutional buying had been evident since May 2, with IBIT inflows reaching as high as $675 million. He predicted that this trend was likely to continue unless there were significant macroeconomic or geopolitical shocks. The absence of significant outflows in key ETFs, except for Grayscale Bitcoin Trust (GBTC), further supported the hypothesis that major investors remained bullish on Bitcoin.
GBTC outflows were attributed to its high fees of approximately 1.5%, which were driving investors to seek cheaper alternatives. This shift was also influenced by factors such as tariffs, political crises, and geopolitical tensions, which affected investor confidence in the stability of GBTC. Despite these outflows, the overall trend of institutional investment in Bitcoin remained robust, with major financial players continuing to accumulate the cryptocurrency.

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