US spot Bitcoin ETFs see $3B inflows in 5 months high

U.S.-based spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) recorded over $3 billion in inflows last week, marking their highest weekly intake since November 2024 and the second-largest ever.  

The inflows coincided with a recovery in cryptocurrency prices, with Bitcoin rising from April lows near $75,000 to about $95,000.  

Friday marked the sixth consecutive day of net inflows for Bitcoin ETFs, led by BlackRock’s IBIT, which attracted $240 million, and Fidelity’s FBTC, with $108 million.  

Together, these two funds accounted for 92% of all inflows on that day.  

The total assets under management for U.S. spot Bitcoin ETFs now approach $110 billion.  

IBIT holds approximately 2.97% of the total Bitcoin supply, nearing the 3% threshold.  

Jay Jacobs, BlackRock’s U.S. Head of Equity ETFs, told CNBC, “If this is the trajectory of greater uncertainty around the world, things like gold and Bitcoin should continue to go up. People are looking for those assets that will behave differently.”  

Ethereum (CRYPTO:ETH) spot ETFs also saw their first net positive weekly inflows since February, totaling $157 million, breaking an eight-week streak of outflows.  

Despite this, Ethereum ETFs hold less than half their value compared to the start of the year due to ETH’s overall price decline.  

The sustained inflows into Bitcoin ETFs reflect growing institutional interest amid macroeconomic uncertainty and renewed confidence in Bitcoin as a strategic asset.  

This trend follows a period of volatility in April, with nine out of 18 trading days showing outflows before the recent surge in capital inflows.  

Investors continue to monitor ETF flows closely as indicators of broader market sentiment and potential price movements.

At the time of reporting, the Bitcoin price was $93,069.40.