US-based spot Bitcoin ETFs saw $2.75 billion in inflows this week, marking a significant increase from the previous week's $608 million. This week’s inflow coincides with Bitcoin's rise above its January all-time high of $109,000. On May 23, spot Bitcoin ETFs recorded inflows of $211.7 million. Notably, BlackRock’s IBIT was the standout fund, adding $430.8 million in the same day and extending its inflow streak to eight days. Conversely, Grayscale’s GBTC and ARK 21Shares’ ARKB experienced substantial outflows of $89.2 million and $73.9 million, respectively. As of now, Bitcoin is trading at approximately $108,141, following a slight decline attributed to dipping crypto market sentiment. Analysts suggest that Bitcoin is not showing signs of overheating, citing low funding rates and limited profit-taking by short-term investors. This month, spot Bitcoin ETFs have accumulated nearly $5.39 billion, potentially setting a new monthly record by late May.

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