- Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices.
- This significant increase in inflows is the highest since early May, driven by positive US CPI data and institutional investor interest.
- “It’s only retail traders buying the Bitcoin ETFs,” quipped James Seyffart, a prominent ETF analyst.
Explore the recent surge in Bitcoin ETFs and their impact on the cryptocurrency market.
Spot ETFs Surge
Following the release of the US Consumer Price Index (CPI) data, which met market expectations, institutional investors have shown renewed interest in Bitcoin ETFs. Fidelity’s FBTC fund led with $131 million in inflows, marking its highest since late March. Similarly, Bitwise’s BITB fund experienced significant inflows, underscoring a bullish sentiment among investors.
Major Players and Market Movements
Notably, Millennium Management holds a substantial $2 billion in various Bitcoin ETFs, becoming the largest stakeholder in several funds. This move by one of the world’s largest hedge funds highlights the growing institutional acceptance of cryptocurrencies as a legitimate investment class.
Conclusion
The recent uptick in Bitcoin ETF inflows, coupled with significant investments from major hedge funds, suggests a robust institutional interest in cryptocurrency. This trend is likely to continue, influencing both the market dynamics and the regulatory landscape.
“`
