Institutional interest in Bitcoin exchange-traded funds (ETFs) has surged, with inflows reaching $934.17 million during the week ending May 9, marking the fourth consecutive week of gains. BlackRock's Bitcoin spot ETF (IBIT) led the inflows, acquiring 10,572 Bitcoin worth over $1.03 billion during the week and continuing a streak of net purchases for 19 consecutive trading days. Fidelity's FBTC and 21Shares' ARKB also contributed $62.44 million and $45.59 million, respectively. Overall, digital asset funds recorded $882 million in net inflows last week, pushing the year-to-date total to $6.7 billion. Bitcoin funds accounted for the majority of these inflows, totaling $867 million, while spot Bitcoin ETFs have seen a three-week inflow streak totaling $5.8 billion. On May 12, BlackRock purchased an additional 686 Bitcoin valued at approximately $70 million. In contrast, Ethereum spot ETFs experienced net outflows, totaling $17.6 million over the same period, with none of the nine Ethereum ETFs reporting net inflows. Despite a recent price increase in Bitcoin, some spot ETF investors showed net outflows on May 12, though BlackRock and VanEck maintained net inflows. The cumulative inflows into Bitcoin ETFs have now surpassed $41 billion, reflecting growing Wall Street participation in the crypto market.

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