• Bitcoin ETFs saw a $600M daily net inflow, led by BlackRock's $IBIT, which now holds 643,755 BTC worth $71.48B in assets.
• Ethereum ETFs added $26.63M, with BlackRock’s $ETHA growing to 1.31M ETH, as other funds posted mixed inflows and outflows.
• Institutional buying between $1M–$10M per order fueled Bitcoin’s climb to $113K, despite lighter retail and mid-size trade activity.

Bitcoin exchange-traded funds (ETFs) have experienced a notable $600.11 million net inflow, with BlackRock’s iShares Bitcoin Trust ($IBIT) leading the charge, according to a post by Lookonchain. The firm’s inflow of 4,931 BTC has pushed its total holdings to 643,755 BTC, equivalent to $71.48 billion. Other prominent ETFs, such as Fidelity’s Wise Origin Bitcoin Fund ($FBTC) and ARK 21Shares Bitcoin ETF ($ARKB), added 218 BTC and 38 BTC, respectively, over the past day.

Simultaneously, total Bitcoin ETF holdings now stand at 1,194,345 BTC, valued at $132.63 billion. Smaller ETFs such as Valkyrie Bitcoin Fund ($BRRR) and Bitwise Bitcoin ETF ($BITB) made small withdrawals of 37 BTC and contributed 190 BTC, respectively. This spike in institutional inflows demonstrates the rising confidence of investors amid Bitcoin's impressive performance close to the $111,000 mark.

Ethereum ETFs See $26.63 Million Growth Amid Mixed Flows

Ethereum ETFs have also shown significant activity, with BlackRock’s Ethereum Trust ($ETHA) driving $26.63 million in daily inflows. According to data from SosoValue, ETHA’s holdings now stand at 1,318,043 ETH, worth $3.51 billion. The fund’s strategic positioning, focusing on comprehensive custody plans and exposure diversification, has bolstered its appeal to institutions.

In contrast, other ETFs like Grayscale’s Ethereum Trust ($ETHE) reported daily outflows of 77 ETH, while its mini version gained 2 ETH. Fidelity’s Ethereum Fund ($FETH) posted mixed results, shedding 9,740 ETH daily but achieving a 7-day inflow of 8,891 ETH. These shifts underscore Ethereum’s volatile yet resilient standing in the ETF landscape.

Institutional Dominance Fuels Bitcoin Rally

The primary driver of Bitcoin's increase from $102,000 to $113,000 has been institutional purchasing. Between May 9 and May 22, analyst CW observed a spike in large orders, especially those between $1 million and $10 million. Smaller traders, however, are scaling back, as evidenced by declining cumulative volume delta (CVD) in mid-sized and retail trades.

According to heatmap data, there is significant liquidity resistance between $109,000 and $111,000, and sell walls are getting stronger close to $112,000 as well. Aggressive institutional purchases and concentrated liquidity zones interact to highlight the sector's critical role in maintaining the momentum of Bitcoin.

Whale Movements Highlight Strategic Accumulation

Significant whale transactions further illustrate market trends. Whale Alert tracked 463 BTC ($51.6 million) transferred to Coinbase Institutional in a single transaction. These movements align with the broader pattern of large-scale accumulation, supporting institutional strategies and reinforcing Bitcoin’s upward trajectory.

Despite minor corrections, Bitcoin’s dominance in the ETF market remains unchallenged, with BlackRock’s $IBIT alone commanding $72.69 billion in assets, 3.29% of the total BTC supply. Ethereum ETFs, though trailing, are gaining traction, driven by targeted inflows and strategic initiatives from leaders like ETHA. This dual focus on BTC and ETH reflects the nuanced dynamics shaping the crypto ETF sector.

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