Bitcoin exchange-traded funds (ETFs) recorded $2.75 billion in net inflows during the week ending May 23, 2025, as institutional investors continued accumulating BTC despite prices holding above $108,000. This marks the seventh consecutive week of positive flows for spot Bitcoin ETFs, according to data from Farside Investors.
The surge comes as Bitcoin maintains strong price action, briefly touching $111,888 on May 22 before settling at $108,400 at weekly close. ETF flows showed particular strength mid-week, with Wednesday’s $934 million inflow representing the largest single-day total since January 2025.
Market analysts attribute this demand to growing institutional adoption, with traditional finance giants like JPMorgan reportedly entering the crypto custody space. The sustained ETF buying pressure has helped offset selling from long-term BTC holders taking profits near all-time highs.
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Bitcoin ETF Flow Breakdown
BlackRock’s iShares Bitcoin Trust (IBIT) dominated weekly flows, capturing $1.32 billion (48% of total inflows). Fidelity’s FBTC followed with $586 million, while Bitwise’s BITB attracted $327 million. Grayscale’s GBTC continued seeing outflows (-$489 million), though at a slower pace than previous weeks.
Daily flow highlights include:
- May 22: Record $934M inflow led by IBIT ($876M)
- May 23: $211M net inflow despite $89M GBTC redemption
- May 24: Early data shows $180M inflow before weekend
Ethereum ETFs Gain Traction
While Bitcoin products dominated flows, Ethereum ETFs saw their best performance of 2025 with $740 million in weekly inflows. This comes as analysts predict SEC approval for spot ETH ETFs could arrive by June 2025. Major flows concentrated in:
- VanEck’s HODL: $312M inflow
- ARK 21Shares’ ETHE: $198M inflow
- Grayscale’s ETCG: $57M outflow
The Ethereum rally pushed ETH to $8,240 during the week, though it remains 42% below its 2021 all-time high. Some traders appear to be rotating profits from Bitcoin into Ethereum positions ahead of potential ETF approvals.
Institutional Activity Reaches New Highs
Futures markets mirrored ETF enthusiasm, with Bitcoin open interest hitting $80 billion across major derivatives platforms. CoinGlass data shows:
| Platform | Open Interest | Weekly Change |
|---|---|---|
| CME | $28B | +18% |
| Binance | $24B | +12% |
| Bybit | $15B | +22% |
Notably, 72% of CME’s Bitcoin futures positions now come from institutional traders, up from 58% in April. This growing institutional participation has reduced daily volatility to 1.8% from 3.2% in Q1 2025.
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The sustained ETF inflows and institutional activity suggest growing confidence in Bitcoin’s role as a macro asset. With daily ETF purchases now exceeding new BTC production by 8:1, analysts predict continued upward price pressure unless macroeconomic conditions shift dramatically. As noted in a recent CCN analysis, this institutional demand cycle differs fundamentally from previous retail-driven rallies.
