Bitcoin (BTC) is witnessing a notable increase in trading volumes within its latest institutional investment offerings, with close to 1,000 U.S. companies investing in Bitcoin exchange-traded funds (ETFs).

According to data shared by research firm Santiment on X (previously Twitter) on May 16, the daily trading volumes for Bitcoin have exceeded $5 billion.

Recently, seven Bitcoin ETFs collectively recorded a trading volume of $5.65 billion in a single day, marking a significant uptick in activity.

The performance of Bitcoin ETFs has been remarkable, reminiscent of the period when BTC/USD reached its peak at $73,800.

Santiment's data highlights that this week witnessed the seven largest U.S. spot ETFs amassing a total volume of $5.65 billion, the highest since March 24.

The days of large investors solely accumulating through on-chain transactions seem to be evolving, as indicated by Santiment, who described the surge in trading volume as a substantial development.

Hedge fund manager Thomas Kralow expressed optimism about the market, stating that the increased trading activity serves as a positive signal for investors.

Bitcoin spot ETFs have demonstrated a resurgence in performance throughout May, with consistent inflows reported daily up to May 17.

Even the Grayscale Bitcoin Trust (GBTC), previously associated with significant outflows, has shown renewed interest, with inflows totaling $27 million and $4.6 million on May 16 and 17, respectively, based on data from sources like the United Kingdom investment firm Farside.

Furthermore, recent Form 13F filings indicate that in the first quarter, 937 U.S. companies had exposure to Bitcoin ETFs, a stark comparison to the 95 firms that invested in gold ETFs during a similar period after their launch.

In terms of BTC price movement, trading firm QCP Capital identified various factors aligning to support a bullish trend, including increased institutional and sovereign adoption of Bitcoin and the conclusion of the halving period.

QCP emphasized the consistent recovery of Bitcoin whenever its price dipped below $60,000, suggesting a strong buy-the-dip sentiment in the market.

Recent reports have indicated growing optimism regarding BTC/USD, with predictions of new all-time highs and potential targets as high as $95,000.

At the time of writing, data from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to breach resistance levels around $67,000, following a surge to new highs in May.

It is important to note that this article does not provide investment advice, and readers are advised to conduct their own research and assessment before making any investment decisions.