Spot Bitcoin exchange-traded funds (ETFs) in the United States are on track for a record-breaking month. Recent inflows have propelled Bitcoin to new all-time highs, indicating a surge in institutional demand.
According to data from Sosovalue, US-listed spot Bitcoin ETFs recorded over $1.5 billion in combined inflows over just two days, with $608 million on May 21 and $934 million on May 22. If this trend continues, monthly inflows may reach an impressive $6.68 billion, surpassing the previous record of $6.49 billion set in November 2024.
These inflows have contributed to Bitcoin reaching a new all-time high of $112,000 on May 22, though it retraced slightly to above $110,700 on May 23, marking a significant increase of over 19% in just one week.
The robust ETF inflows and Bitcoin’s ascent signal a growing institutional demand, as noted by Nexo dispatch editor Stella Zlatareva. She highlighted that these trends show increasing realized profits without the accompanying sell pressure, suggesting a shift in how Bitcoin is perceived within financial markets.
As institutional inflows gain momentum, along with corporate balance sheet moves and macroeconomic dislocation, the message is becoming clear: Bitcoin is evolving beyond its alternative asset status and establishing itself as a benchmark in the financial landscape.
Recent surges in ETF demand have coincided with significant Bitcoin withdrawals from exchanges, notably $1 billion worth of Bitcoin withdrawn from Coinbase on May 9. This trend has been interpreted by analysts as evidence of a burgeoning institutional appetite for Bitcoin.
Forecast: Bitcoin Could Surpass $200,000 by 2025
Looking further ahead, Bitwise has set an ambitious price target of $1 million for Bitcoin by 2029, anticipating that its market cap will surpass that of gold, currently the leading safe-haven asset.
Despite Bitcoin’s significant gains, it remains important to note that gold’s $22.3 trillion market capitalization is still more than ten times larger than Bitcoin’s approximate $2.2 trillion, positioning Bitcoin as the world’s fifth-largest asset.
