On Friday, May 24, Bitcoin ETF inflows surged, totaling $251 million, with BlackRock leading the way by scooping up $182 million. This increase follows a mid-week slowdown and brings the total net inflows for Bitcoin spot ETFs to over $2 billion in the last two weeks.
BlackRock’s ETF IBIT now holds 284,526 Bitcoins worth $19.32 billion, nearing Grayscale’s GBTC, which holds 289,257 Bitcoins valued at $19.64 billion. This uptick is partly driven by the market’s improved sentiment due to the recent approval of the spot Ethereum ETF.
The sustained inflows reflect strong investor confidence in Bitcoin, despite market fluctuations. Geoffrey Kendrick of Standard Chartered Bank anticipates continued robust inflows, predicting a year-end BTC price target of $150,000.
This trend underscores the growing institutional interest in regulated Bitcoin investment products, marking a significant step for cryptocurrency market maturation.
