Bitcoin Surpasses $70,000 Again as Spot ETF Inflows Hit Monthly Record
Bitcoin reclaimed the $70,000 level for the first time since March, fuelled by $3.2 billion in net inflows into US spot Bitcoin ETFs — the largest monthly total since their January launch.
- •Bitcoin reclaimed $70,000 for first time since March, up 5.2% in one session
- •US spot Bitcoin ETF inflows hit $3.2B in May — largest monthly total since launch
- •BlackRock's IBIT holds over 280,000 BTC (~$20B); led May inflows at $1.8B
- •Total crypto market cap climbed above $2.5T; next key resistance at $72,000
Bitcoin crossed the $70,000 threshold on Wednesday, rising as much as 5.2% in a single session to reach its highest level in over six weeks. The rally came as net inflows into US spot Bitcoin exchange-traded funds (ETFs) hit $3.2 billion in May — the largest monthly total since the products were approved by the SEC in January.
BlackRock's iShares Bitcoin Trust (IBIT) led the pack, pulling in $1.8 billion in May alone and now holding over 280,000 BTC — worth roughly $20 billion. Fidelity's Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF also posted strong inflows, underscoring broad institutional appetite for Bitcoin exposure via regulated wrappers.
Analysts point to several tailwinds: the post-halving supply squeeze (Bitcoin's block reward dropped from 6.25 to 3.125 BTC in April), continued dollar weakness following the Fed's dovish tilt, and growing corporate treasury adoption with several mid-cap firms disclosing new BTC positions in their Q1 filings.
For beginners, it is important to note that Bitcoin remains one of the most volatile assets on the planet. While ETFs make it easier for everyday investors to get exposure, the price can move 10–20% in either direction within days. Many financial advisors recommend limiting crypto exposure to a small percentage of an overall portfolio.
The crypto market broadly rallied in sympathy: Ethereum gained 4.1%, Solana rose 6.8%, and the total crypto market capitalisation climbed above $2.5 trillion. Traders will be watching the $72,000 level closely — a clean break above that would open the door to new all-time highs above $73,700.
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