Bitcoin ETF Surges With $420M Inflow

Bitcoin ETFs Surge with $422.5M Inflow, BTC Nears $100K

• The U.S. Spot Bitcoin ETF saw a net inflow of $422.5 million on May 1.
• BlackRock’s IBIT led with an inflow of $351.4 million.
• Fidelity’s FBTC and Bitwise’s BITB added $29.5 million and $38.4 million, respectively.
• Grayscale’s GBTC reported a modest inflow of $16 million.
• The Bitcoin price reached an intraday high of $97,360, the highest since February 22.

The significant inflows into Bitcoin ETFs on May 1 highlight renewed institutional interest, contributing to Bitcoin’s price surge to a recent high of $97,360 and sparking discussions about its potential to reach the $100,000 mark soon.