In May 2025, spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. experienced some of the largest institutional inflows in history. This development shows that digital assets are no longer just speculative instruments, but have become cornerstones of institutional portfolios. The size of the ETFs and the accelerating institutional interest appear poised to fundamentally reshape the role of Bitcoin and Ethereum in the global financial system.
Record Figures in Spot Bitcoin ETFs
In the final week of May 2025, spot Bitcoin ETFs recorded $25 billion in weekly trading volume and $2.75 billion in net inflows. On May 22 alone, net inflows reached $934.8 million, marking the highest daily figure since January 2024.
The largest share went to BlackRock’s IBIT fund, which set a new record with $877.2 million in daily inflows, pushing its assets under management to $68.7 billion. The fund currently holds 651,617 BTC, equivalent to 3.1% of total global supply.
Since the spot ETFs were approved in January 2024, total net inflows have reached $44.6 billion. As of 2025, IBIT ranks among the top five ETFs in the U.S. by size.
Quiet Climb in Ethereum ETFs
During the same period, Ethereum ETFs also showed an upward trend. As of May 23, daily net inflows stood at $110.5 million, bringing the weekly total to $211.8 million.
Fidelity’s FETH fund led with $42.2 million, while Grayscale’s ETHE fund contributed $43.7 million. Although BlackRock’s ETHA fund saw no inflows that week, it remains a significant institutional vehicle with $3.38 billion in assets under management.
Gold vs. Bitcoin ETFs: The Race Heats Up
In the ETF market, traditional instruments and digital assets are now in direct competition. In Q1 2025, gold ETFsattracted $21.1 billion in net inflows, showing strong performance. During the same period, spot Bitcoin ETFs drew $3.6 billion in net inflows. This suggests that while investors still turn to gold as a “safe haven,” they are also increasingly acknowledging crypto’s rapid rise.
According to data from Bitwise, Bitcoin ETFs brought in $36.2 billion in net inflows in 2024, outperforming the first-year performance of the GLD gold ETF by a factor of 20. Bitwise projects $120 billion in inflows by the end of 2025, and $300 billion by 2026.
Governments and Corporations Are Accumulating BTC
Beyond institutional investors, publicly traded companies and nation-states are also expanding their Bitcoin reserves. Public companies collectively hold 1,146,128 BTC (approx. $125 billion), which represents 5.8% of total supply.
Governments hold a combined 529,705 BTC, led by the United States (207,189 BTC), China (194,000 BTC), and the United Kingdom (61,000 BTC).
Bitwise estimates that by 2026, spot ETFs, sovereign reserves, and public companies will bring a total of $420 billion in capital into Bitcoin.
Crypto Enters the Institutional Era
As of 2025, cryptocurrencies are no longer limited to individual investors; they are now firmly on the radar of institutional giants. Record inflows into spot Bitcoin and Ethereum ETFs reflect the legitimacy and growing adoptionof crypto assets.
With Bitcoin approaching its all-time high of $112,000 and Ethereum rebounding 90%, investor confidence is clearly rising.
With hundreds of billions of dollars in expected inflows by 2026, the crypto market is no longer just a tech trend—it now represents a permanent and transformative force in global finance.
