In a significant development for the cryptocurrency sector, Gracy Chen, CEO of prominent crypto exchange Bitget, announced that spot Bitcoin exchange-traded funds (ETFs) have exceeded $40 billion in cumulative inflows. The update, shared via her official X (formerly Twitter) account on Monday, marks a historic milestone that underscores growing confidence among both retail and institutional investors.
Spot Bitcoin ETFs Cross $40 Billion Threshold
Since their debut in early January 2024, twelve spot Bitcoin ETFs have collectively attracted tens of billions in capital, signaling sustained institutional interest despite ongoing market fluctuations. According to data from crypto analytics platform SosoValue, these ETFs saw a combined inflow of $260.27 million on May 16 alone.
Leading the latest wave of investments, BlackRock’s iShares Bitcoin Trust (IBIT) secured $129.73 million in inflows, followed by Fidelity’s FBTC with $67.95 million, and ARK Invest and 21Shares’ ARKB with $57.98 million.
As of May 16, the total net inflow across all twelve ETFs stood at $41.77 billion—a landmark figure that points to Bitcoin’s evolution from a speculative asset into a mainstream financial instrument increasingly favored by institutional players.
A Turning Point for Institutional Adoption
Gracy Chen highlighted the broader implications of this momentum, stating the influx of institutional capital reflects a transformative shift in market dynamics. She described the current phase as “the most institutionally anchored cycle in crypto history,” suggesting that this trend could lay the groundwork for a sustained bullish trajectory in the market.
Despite Bitcoin’s recent price volatility, investor sentiment remains positive. According to CoinMarketCap data, Bitcoin recorded a 1.74% gain in the past 24 hours, pushing its value to $105,450.90 at the time of reporting.
This milestone not only reinforces Bitcoin’s legitimacy in traditional finance but also signals a deepening integration of crypto assets into institutional portfolios, potentially reshaping the long-term landscape of global financial markets.
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