S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
U.Today - Gracy Chen, CEO of the renowned cryptocurrency exchange Bitget, revealed a major milestone for the Bitcoin ecosystem in an X post on Monday.
According to the post, spot Bitcoin ETFs have surpassed a cumulative inflow of $40 billion as of May 19, building strong confidence among both retail and institutional Bitcoin investors.
Over $40 billion milestone
With 12 spot Bitcoin ETFs collectively amassing inflows worth tens of billions since their launch in early January 2024, institutional interest in Bitcoin remains strong despite periodic market volatility.Following recent bullish moves in the leading cryptocurrencies, spot Bitcoin ETFs continue to attract significant capital. Data from popular crypto tracking platform SosoValue shows these ETFs brought in a total inflow of $260.27 million on May 16.
BlackRock’s IBIT led the charge with a substantial $129.73 million inflow, followed by Fidelity’s FBTC and ARK & 21Shares’ ARKB, which posted $67.95 million and $57.98 million respectively.
As of May 16, total cumulative net inflows across all 12 ETFs have reached $41.77 billion.
This historic inflow signals Bitcoin’s transformation into a strategic asset class increasingly embraced by institutional giants and major financial firms.
Bitcoin institutional demand rockets
Gracy Chen emphasized the broader impact of this milestone on the crypto market, stating it reflects surging institutional confidence, particularly in Bitcoin.She described the current trend as “the most institutionally anchored cycle in crypto history,” highlighting how this influx of institutional capital could lay the foundation for a long-term bull run.
While Bitcoin has shown mixed market signals recently, traders remain optimistic. Data from CoinMarketCap shows Bitcoin trading in the green, with a 1.74% price increase over the last 24 hours, pushing its current price to $105,450.90 as of press time.