Bitcoin ETFs Surge with $600 Million Inflows, Driven by Institutional Buying

Bitcoin ETFs experienced a significant surge in inflows of over $600 million on May 22nd, led by BlackRock’s $IBIT ETF. This influx, bolstered by institutional buying activity, pushed Bitcoin’s price towards a new record high above $113,000. Blackrock’s investment added a substantial 4,931 BTC to their holdings, bringing the total value of their assets to $71.48 billion. This surge in institutional interest signals increased confidence in Bitcoin’s long-term prospects.