Institutional demand for Bitcoin picked up sharply after exchange-traded funds (ETFs) bought $630 million worth of BTC in a single trading session. The buying reversed the previous week’s selling trend and brought large asset managers back into the market.
Blockchain analytics platform Arkham reported the activity on X, noting, “ETFs JUST BOUGHT $630M OF BTC.” The data points to renewed accumulation by institutions and a shift in short-term market sentiment.
Arkham also said, “ETFs bought more BTC on Friday than they sold in the entire week prior.” BlackRock led the inflows with $284.4 million, followed by Fidelity with $213.4 million, and ARK Invest with $88.5 million. These purchases strengthened Bitcoin’s position as the main asset for institutional crypto exposure and helped support the latest price momentum.
Institutional flows and custody movements
On-chain data from Arkham shows steady movement between ETF-linked wallets and Coinbase Prime custody accounts. BlackRock’s IBIT ETF transferred 226.677 BTC, worth about $17.54 million, into a deposit wallet. However, smaller transfers also appeared across the system, suggesting routine operational handling rather than any large selling activity.
Ethereum-linked ETFs showed similar activity. Several transactions moved batches of 10,000 ETH into Coinbase Prime deposit addresses. These transfers ranged from about $14 million to $22 million each. Additionally, another transfer of 6,273 ETH, worth roughly $14.3 million, also entered custody systems.
ETHB Staked Ethereum ETF wallets added more activity on the staking side. Transfers of 6,344 ETH and 6,400 ETH moved into staking deposit systems.
ETF inflows drive market recovery
CoinGlass data shows crypto ETF inflows reached $731 million, lifting total assets under management to $122.5 billion. Bitcoin ETFs led the inflows with $629.8 million, while Ethereum ETFs added $101.2 million. The numbers point to demand staying focused on the two largest crypto assets.
However, Solana and XRP ETFs recorded no inflows, showing weak institutional interest outside Bitcoin and Ethereum. Earlier in the week, flows turned negative between April 27 and April 29. As a result, a strong rebound at the start of May brought in nearly $700 million in a single day and wiped out the earlier outflows.
It is worth noting that Bitcoin reacted to the influxes and traded above $80,500 for the first time since January. Ethereum appreciated and reached $2,400, while XRP climbed back up to $1.40.
The volatility was high, with investors keeping an eye on cues from the US Federal Reserve as well as international politics. Bitcoin went higher and even tested $80,600 before dropping back down to $80,000.
Also Read: Today in Crypto: Bitcoin Reclaims $80K, DOGE Spikes 4% Ahead of Weekly Opening
