Bitcoin ETFs are building momentum while the digital asset reaches new highs. BlackRock’s IBIT closed May 21st with an impressive $530 million in inflows, the highest amount of deposits the fund has seen since May 5th.
IBIT’s performance has been pretty much carrying Bitcoin ETFs, as the fund is responsible for the majority of inflows in the market. BlackRock may as well celebrate the fact that May has been one of the most successful months in history for IBIT. During this month, the fund has not recorded a single day of outflows, while adding $4.02 billion in $BTC to its fund.
Bitcoin Trades Above $112K
Bitcoin made history once again on May 22nd, reaching above the $112,000 zone for the first time ever.
The market-leading cryptocurrency began the day trading at around $109,870 after a small retraction from yesterday’s performance. Bitcoin would go on to build momentum throughout the day—surpassing its previous ATH and reaching a historic high of $112,008 on the BTC/USD trading pair at Coinbase.
Major institutions have played an increasingly dominant role in this ascension. Traditional financial giants like BlackRock, Fidelity, and Strategy have embraced Bitcoin as an asset, even when retail investments was on the decline a couple of months back.
The asset may finally be maturing into a de facto hedge against inflation, rivaling traditional safe-haven assets like gold. With central banks navigating uncertain monetary policies and inflationary concerns persisting globally, Bitcoin’s scarcity—capped at 21 million coins—has made it an attractive option for investors looking to preserve purchasing power.
If you’re just getting started on WEEX, there’s also a welcome bonus available through the Bitcoinsensus link. New users can claim a 20% deposit bonus, with rewards of up to 400 USDT as part of a broader 30,000 USDT welcome pool. It’s a simple way to boost your initial trading capital while exploring the platform.
