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Bitcoin has soared to a brand new all-time excessive (ATH), vaulting previous tech giants Google and Amazon in market cap amid surging institutional demand, led by BlackRock’s Bitcoin ETF.
BTC soared to a document peak of $111,861.22, however has since retraced to commerce at $110,732.10 as of 10:41 a.m. EST.
The current surge within the BTC worth not solely noticed the overall crypto market capitalization rise over 4% to above $3.5 trillion, it additionally noticed Bitcoin’s whole valuation surpass that of Amazon and Google.
Bitcoin’s present market cap stands at over $2.2 trillion, taking it forward of Google’s $2.05 trillion and Amazon’s $2.13 trillion, in accordance to Companiesmarketcap.
BlackRock Bitcoin ETF Posts Highest Inflows In 2 Weeks
Bitcoin’s new ATH got here as spot Bitcoin ETFs (exchange-traded funds) recorded $607.1 million in internet each day inflows on Could 21, knowledge from Farside Traders exhibits.
BlackRock’s Bitcoin ETF, which is the chief when it comes to cumulative inflows, maintained its dominance, with $530.6 million flowing into the fund yesterday. This was considerably greater than the second-best performer, which was Constancy’s FBTC with $23.5 million of inflows.
Nobody has ever misplaced cash shopping for Bitcoin.
— Michael Saylor (@saylor) Could 21, 2025
BlackRock’s Bitcoin ETF additionally ended up shopping for greater than 10 occasions the quantity of BTC that was produced yesterday. This was after the fund scooped up 4,931 BTC, whereas miners solely produced 450 BTC yesterday.
New Stablecoin Invoice Might Set off A Multi-Yr Bull Run
Sentiment was buoyed after the US Congress superior a key stablecoin invoice. Bitwise’s chief funding officer, Matt Hougan, wrote in a current weblog put up that the so-called GENIUS invoice would possibly spark a ”multi-year” bull run.
“Exterior of the January 2024 approval of spot bitcoin ETFs, that is crucial regulatory growth within the historical past of crypto,” he wrote. “It could even be greater.”
Whereas the invoice awaits approval, Donald Trump’s crypto and AI czar David Sacks stated in a current interview with CNBC that the stablecoin invoice “goes to go.”
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