#ETFvsBTC Institutional Investors Drive Bitcoin ETF Inflows as BTC Nears $70K

Institutional Investment Resurgence:

Over the past two weeks, institutional investment in US Bitcoin ETFs has surged, driving Bitcoin’s price up 3% to nearly $70,000.

Significant Inflows:

On May 24, inflows to spot Bitcoin ETFs hit $251 million, recovering from a mid-week dip. Bitcoin is currently trading at $68,628, with a market cap of $1.352 trillion.

ETFs Driving Growth:

After a slow start to May, spot Bitcoin ETFs saw inflows exceeding $2 billion in two weeks, boosted by the approval of the spot Ethereum ETF on May 23.

Key ETFs include:

BlackRock ETF (IBIT): $182 million inflow

Fidelity ETF (FBTC): $43.7 million inflow

Grayscale ETF (GBTC): No net inflow/outflow

BlackRock's IBIT holds 284,526 Bitcoins ($19.32 billion), closing in on Grayscale's GBTC, which holds 289,257 Bitcoins ($19.64 billion).

Growing Influence of Bitcoin ETFs:

Regulated Bitcoin investment products are attracting more institutional money.

Geoffrey Kendrick from Standard Chartered Bank predicts strong inflows for Bitcoin ETFs and a potential Bitcoin price of $150,000 by year-end. He highlights the appeal of diversified BTC and ETH ETFs, enhanced by the SEC’s Ethereum ETF approval.

Conclusion:

The surge in Bitcoin ETF inflows underscores rising institutional confidence in the crypto market. As Bitcoin nears $70,000, the approval of more cryptocurrency ETFs could further boost market growth and attract substantial investment.