Bitcoin ETFs attracted $237 million in inflows on May 20, aligning with Bitcoin’s 7% price surge to $71,000, driven by optimism for a spot Ethereum ETF approval.
According to Farside Investors data, Bitcoin spot ETFs recorded a net inflow of $237.2 million, surpassing daily BTC mining. Grayscale’s GBTC gained $9.35 million despite CEO Michael Sonnenshein’s resignation, marking five consecutive days of inflows.
Ark Invest’s ARKB and BlackRock’s IBIT garnered $68.28 million and $66.35 million, respectively. At the same time, spot Bitcoin ETFs acquired over 3,400 BTC on May 20, surpassing the daily mining rate of 450 BTC and leading to a total of $235 million in U.S. Bitcoin ETF inflows.
The daily ETF inflows surpassed BTC mining rates, with over 3,400 BTC purchased against 450 BTC mined. Institutional interest in Bitcoin continues to rise, with over $932 million in investment products inflows last week.
Projections from CryptoCon suggest Bitcoin could hit $108,000 to $149,000 by year-end, bolstered by growing institutional confidence and market dynamics.
