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Bitcoin (CRYPTO: BTC) climbed back above the key $80,000 level on Monday for the first time in three months, supported by renewed capital inflows and improving market sentiment.
Bitcoin ETF Inflows Fuel Price Surge
Data from DefiLlama shows $630 million flowed into spot bitcoin ETFs on the first day of May, extending a streak that helped make April the strongest month since October. The report also pegged Bitcoin’s gain at 19% over the past month.
iShares Bitcoin Trust (NASDAQ:IBIT) pulled in $284.4 million in capital on May 1, followed by inflows of $213.4 million in Fidelity Wise Origin Bitcoin Trust (BATS:FBTC), and $88.5 million in ARK 21Shares Bitcoin ETF (BATS:ARKB). All these funds seek to track Bitcoin’s price.
IBIT is the largest of the three …
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