Cumulative inflows to Bitcoin ETFs surpassed $40 billion

According to CEO of Bitget, Gracy Chen, as of May 19, Bitcoin-backed exchange-traded funds (ETFs) posted a cumulative inflow of more than $40 billion. 

Bitcoin-ETFs continue to raise significant capital since launching in early January 2024, which reflects strong interest from retail and institutional investors, despite periods of increased market volatility. SosoValue reports that investments in such exchange-traded funds totaled $260.27 million on May 16. BlackRock’s iShares Bitcoin Trust (IBIT) was the leader with the notable inflow of $129.73 million. Investments in FBTC by Fidelity and ARKB by ARK & 21Shares reached $67.95 million and $57.98 million, respectively.      

Gracy Chen highlights that the record inflows into Bitcoin-ETFs have a broad impact on the crypto market. She believes they indicate strengthening institutional confidence in cryptocurrencies, especially Bitcoin. Besides, this influx of capital could push the price of the main cryptocurrency up, says the CEO of Bitget.