Bitcoin Hits $100,000 Again as Big Investors Show Strong Interest
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Bitcoin crossed the $100,000 mark again on May 8, thanks to strong buying from large financial players. Data from Farside Investors revealed that Bitcoin exchange-traded funds (ETFs) saw $142.3 million in net inflows on May 7. This signals that institutional investors, such as hedge funds and asset managers, are still very interested in Bitcoin.
According to Alex Obchakevich, founder of Obchakevich Research, big investors continue to buy Bitcoin through trusted and regulated methods.
Some of the most active ETFs were ARK 21Shares Bitcoin ETF (ARKB), which received $54 million; Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $39 million; and BlackRock’s iShares Bitcoin Trust (IBIT) with $37 million. On the same day, BlackRock added more than 86 Bitcoin, worth about $8.4 million, in a single purchase, based on Arkham Intelligence data.
ETF Inflows Show Growing Confidence in Bitcoin
On May 8, Bitcoin ETFs attracted even more money—over $117 million. This time, IBIT led the way with $69 million, followed by FBTC with $35 million and ARKB with $13 million. Obchakevich pointed out that BTC’s price movement is now closely tied to tech stocks. He mentioned that the correlation between Bitcoin and the Nasdaq index was 0.75, meaning Bitcoin’s rise was supported by gains in the tech market.
Source: coinmarketcap
To this end, Obchakevich also shared that this strong buying trend began earlier, on May 2, when IBIT alone had $675 million in inflows. He believes this positive trend will continue unless disrupted by major global or economic events. However, institutional investors seem to remain confident, and their steady investments are helping BTC stay strong.
Grayscale Trust Sees Outflows for Unique Reasons
However, not all ETFs are behaving the same. The Grayscale BTC Trust (GBTC) has seen regular outflows, which Obchakevich explained as being caused by its higher fees, about 1.5%, and other outside issues. Investors are switching to cheaper ETFs with similar exposure to BTC.
Obchakevich said that political and economic troubles, including rising tariffs and tension between Pakistan and India, are making investors cautious about GBTC. These special challenges are not affecting other ETFs as much. While most funds add to BTC, GBTC is seeing money flow out due to its unique problems.
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