Crypto ETF Month — May 2025: net +$5.8B
May 2025 saw significant net inflows into spot crypto ETFs, totaling +$5.8B. Bitcoin and Ethereum were the primary beneficiaries during this period.
TL;DR
- Net flow: +$5.8B
- Total inflows: +$6.7B
- Total outflows: -$861.2M
- Strongest day: May 22 (+$1.0B) · Weakest day: May 30 (-$545.9M)
Monthly Overview
In May 2025, net flows into spot crypto ETFs were positive, totaling +$5.8B. The majority of the flows were concentrated in Bitcoin and Ethereum, with only these two assets recording inflows this month.
Flows by Asset
BTC
Net: +$5.2B / Inflow: +$6.1B / Outflow: -$861.2M
| Fund | Flow |
|---|---|
| BlackRock | +$5.9B |
| Grayscale | -$451.1M |
| 21Shares | -$291.3M |
| Grayscale BTC | +$129.8M |
| Bitwise | -$65.3M |
| VanEck | +$61.2M |
| Fidelity | -$19.2M |
| Invesco | -$17.2M |
| Franklin | -$17.1M |
| Valkyrie | +$0.5M |
ETH
Net: +$564.2M / Inflow: +$564.2M / Outflow: $0.0M
| Fund | Flow |
|---|---|
| BlackRock | +$424.1M |
| Grayscale ETH | +$64.0M |
| Fidelity | +$54.3M |
| Bitwise | +$10.3M |
| VanEck | +$5.9M |
| Franklin | +$3.1M |
| Invesco | +$1.6M |
| Grayscale | +$0.9M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| May 1 – May 2 | +$1.1B |
| May 5 – May 9 | +$895.8M |
| May 12 – May 16 | +$650.2M |
| May 19 – May 23 | +$3.0B |
| May 27 – May 30 | +$141.0M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$5.9B
- BlackRock (ETH): +$424.1M
- Grayscale BTC (BTC): +$129.8M
- Grayscale ETH (ETH): +$64.0M
- VanEck (BTC): +$61.2M
Largest outflows
- Grayscale (BTC): -$451.1M
- 21Shares (BTC): -$291.3M
- Bitwise (BTC): -$65.3M
- Fidelity (BTC): -$19.2M
- Invesco (BTC): -$17.2M
Market Interpretation
Bitcoin led the monthly performance with a net inflow of +$5.2B, primarily driven by strong contributions from BlackRock. Ethereum also saw positive momentum, with a net inflow of +$564.2M, indicating institutional interest in both assets. The highest inflow day was May 22, which saw +$1.0B, while the worst day was May 30, reflecting a notable outflow of -$545.9M, pointing to volatility and potential profit-taking.
Conclusion
Overall, the month ended positively with a net figure of +$5.8B. This highlights a sustained interest in crypto ETFs despite fluctuations in daily flows.