According to Farside data, Bitcoin (BTC) exchange-traded funds (ETFs) collectively amassed an impressive $305.7 million on May 21, marking the largest single-day inflow since the beginning of the month. This substantial influx of funds highlights the growing investor interest and confidence in the cryptocurrency market, particularly in the realm of Bitcoin-based ETFs.

Despite the overall impressive figure, the inflows were primarily driven by two ETF issuers, showcasing a relatively narrow breadth of participation. BlackRock's IBIT ETF emerged as the standout performer, attracting a massive $290 million inflow – the largest since April 5. This significant investment has propelled IBIT's total net inflow to a remarkable $16 billion, solidifying its position as a leading player in the Bitcoin ETF landscape.

Fidelity's FBTC ETF also experienced a notable surge, with a $25.8 million inflow, bringing its total net inflow to $8.6 billion. However, not all ETFs shared in the success, as Bitwise's BITB ETF recorded its first outflow since May 1, with $4.2 million leaving the fund. VanEck's HODL ETF also reported an outflow of $5.9 million, resulting in total net inflows of $1.9 billion and $500.2 million, respectively.

Interestingly, Grayscale's GBTC ETF maintained a neutral position, with no inflows or outflows registered on May 21. Despite the mixed performance among individual ETFs, the overall trend remains positive, with the total net inflow for all Bitcoin ETFs now standing at an impressive $13.2 billion, according to Farside data.

Further analysis from HeyApollo reveals that IBIT now holds 281,899 BTC, positioning it just behind GBTC, which has 289,512 BTC. On May 21 alone, the total BTC accumulation across all ETFs was 4,409, with IBIT accounting for a significant portion of 4,183 BTC.

The surge in Bitcoin ETF inflows underscores the growing institutional and retail investor interest in gaining exposure to the cryptocurrency market through regulated investment vehicles. As the adoption of Bitcoin and other digital assets continues to expand, the demand for ETFs that provide secure and convenient access to these assets is expected to rise, potentially driving further growth in the sector.