Spot %Bitcoin (CRYPTO: $BTC) exchange-traded funds have had a great May.
The dozen U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have registered net inflows of $5.77 billion U.S. during the month of May.
That’s the highest net inflow since last November, according to market data.
Since the stock market bottomed in mid-April of this year, spot Bitcoin ETFs have only experienced net outflows on four days.
The rest of the time, money has flowed into the ETFs, led largely by institutional investors that are increasingly gaining exposure to cryptocurrencies.
BlackRock’s %iSharesBitcoinTrust ETF (NASDAQ: $IBIT), which is the largest BTC ETF based on assets under management, received the most inflows during May.
The surge of inflows into Bitcoin ETFs comes as the price of the largest %Cryptocurrency by market capitalization recently hit an all-time high above $111,000 U.S.
After languishing throughout March and April of this year, cryptocurrency prices have surged in May alongside stocks.
Bitcoin is currently trading right around $109,000 U.S., having gained 17% on the year.
