Bitcoin crossed the $100,000 mark again on May 8 as institutional investors continue stacking sats.
Farside Investors’ data shows that spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded cumulative net inflows of $142.3 million on May 7, in a sign of “sustained institutional interest,” according to the founder of Obchakevich Research, Alex Obchakevich.
“These inflows indicate the activity of institutional investors, including hedge funds and asset managers, who continue to accumulate BTC through regulated instruments,“ he said.
The ARK 21Shares Bitcoin ETF (ARKB) led with $54 million in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $39 million and BlackRock’s iShares Bitcoin Trust (IBIT) at $37 million. Data from Arkham Intelligence shows BlackRock acquired more than 86 Bitcoin worth $8.4 million in a single transaction on May 7.
24-hour Bitcoin price chart. Source: <a data-ct-non-breakable="null"