Wall Street’s New Crypto Darling: Spot Bitcoin ETFs Rake in $609M as BTC Soars Past $111K

Bitcoin ETFs just became the hottest ticket in town—pulling in a cool $609 million as BTC smashes records. Who needs fundamentals when you’ve got FOMO?

The institutional floodgates are wide open. Traders pile into spot ETFs like it’s 2021 all over again, proving Wall Street finally learned how to spell ’HODL.’

Meanwhile, traditional finance guys still can’t decide if crypto’s a revolution or a Ponzi scheme. Spoiler: It’s both—and it’s winning.

• Spot Bitcoin ETFs recorded $609 million in net inflows on Wednesday.
• Bitcoin surged to a new all-time high above $111,000 during the same period.
• BlackRock’s IBIT led inflows with $530.6 million in a single day.

U.S. spot Bitcoin ETFs posted $609 million in net inflows on Wednesday, extending their streak to six straight sessions. Following the increased demand by institutions, bitcoin pushed higher to a new all-time high of over $111,000, driven partly but not solely by ETF activity. The trading volume across 12 U.S.-listed spot Bitcoin ETFs reached $7.64 billion, the highest since late February.

Following Bitcoin’s breakout past around $109,000 within 24 hours earlier this week, the demand for ETFs jumped. It coincided with wider positive crypto market momentum and increased crypto market participation. Cumulative net inflows so far are $43.38 billion since launch, with total May inflows of $4.24 billion.

Volume is still strong, and prices are strong, which shows that institutional and retail interest is up. Spot bitcoin ETF activity confirms strong underlying demand and a favorable liquidity environment. Against this backdrop, US-listed digital asset products continue to draw more inflows.

Source: SoSoValue

BlackRock, Fidelity, Bitwise Drive Bitcoin ETF Demand

On Wednesday, $530.6 million was pumped into BlackRock’s iShares Bitcoin Trust (IBIT). Net inflows of over $20 million were seen to Fidelity’s FBTC, Bitwise’s BITC and Grayscale’s Mini Bitcoin Trust. These four funds accounted for most of the capital entering the Bitcoin ETF market.

Meanwhile, net positive flows came elsewhere, including from other providers like VanEck, Ark & 21Shares, and Valkyrie. All fund activities remained stable, showing wide participation in the ongoing rally. Trading interest spiked, confirming renewed confidence in spot Bitcoin ETF structures.

Collectively, the 12 spot Bitcoin ETFs saw their highest trading day in nearly three months. Constant inflows contributed to continuing the strength of market sentiment and the liquidity depth—a strong directional bias on Bitcoin-related products is revealed in the FORM of net inflows.

Bitcoin Liquidity and Metrics Signal Bullish Setup

Market liquidity and order book positioning signal continued upside for Bitcoin in the shorter term, according to Hyblock Capital. Now, its Combined Books metric has climbed into the 98th percentile over 90 days, indicating more action. There has also been a jump in open interest to the 96th percentile on major exchanges.

According to Hyblock, the support zone at $101,000 to $102,500 repeatedly saw long positions enter on key platforms. Within this band, we find a pattern of trapping short sellers and increasing long exposure with limit orders. It’s also worth noting that cumulative volume delta shows breakout potential if net buying crosses $250 million.

btc hit a new all time high today.

On the 3 month lookback, we’ve only seen short liquidity build above. and BTC has been hunting this liquidity over and over. Most recently, there is another short liq zone that has opened.

Even more interesting is the fact the just 31.59% of… pic.twitter.com/cVE5QxXy2x

Lower retail long exposure remains a key indicator for sustained gains, as retail participation is a key indicator. However, a net drop below $500 million might not be long before reversals come into the equation. These signals suggest the Bitcoin ETF market remains well-positioned for further growth.

Macro Trends Reinforce Bitcoin ETF Momentum

Persistent inflation concerns and rate cut expectations continue to boost Bitcoin’s appeal as a hedge among macro-focused participants. Last week, the U.S., Germany, and Hong Kong led inflows, while Sweden, Canada, and Brazil led outflows. This gap in activity illustrates changing tastes for digital asset exposure across various regions.

Bitcoin led digital asset inflows with $557 million last week, down slightly but still dominating all categories. Short-Bitcoin products also posted modest gains, suggesting hedging activity alongside bullish positioning. ethereum supported the latest upgrade and leadership changes, tipping it with $205 million.

Bitget Research noted that current macroeconomic conditions favor Bitcoin over traditional assets. With the dollar strengthening and geopolitical risks rising, Bitcoin ETF allocations appear increasingly attractive—market participants now see $113,000 as a near-term target, supported by technical and macro signals.

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