<\/p>\n
Bitcoin rallied above $67,000 for the first time in nearly a month, while ETH surged 5%.<\/p>\n
Crypto markets soared on Friday morning, driven by positive ETF inflows.<\/p>\n
Bitcoin (BTC) is trading at $67,000, up 3.5% in the last 24 hours. Ether (ETH) surged 5% to $3,100, while Solana (SOL) rose by nearly 2%, according to CoinGecko <\/a>data.<\/p>\n <\/p>\n <\/a><\/p>\n Michael Van de Poppe, CEO of MN Trading, said<\/a>, “It’s likely that the momentum continues from here, and the trend has switched.” He added that, as a result, altcoins are “running up substantially as confidence comes back in.”<\/p>\n ETF flows for the week of May 13 increased sixfold to 726.8 BTC from 116.5 BTC the previous week.<\/p>\n Data from Farside shows<\/a> that Fidelity’s Bitcoin ETF (FBTC) saw the largest inflow, increasing by 133.8 BTC during the week. ARK Invest’s Bitcoin ETF (ARKB) also had substantial inflows, with 133.1 BTC entering in a single day on May 14.<\/p>\n May 15 saw a significant inflow of 303.0 BTC, led by FBTC and Bitwise Bitcoin ETF (BITB).<\/p>\n Since its launch, the 11 Bitcoin ETFs have accumulated $12.4 billion in assets. According to Santiment<\/a>, seven major Bitcoin ETFs generated trading volumes of $5.65 billion this week, the highest since March 24.<\/p>\n Meanwhile, in an SEC filing on May 15, multinational investment bank Morgan Stanley revealed that it had acquired<\/a> $270 million worth of Grayscale’s GBTC, establishing itself as one of the largest institutional holders.<\/p>\n