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TLDR:
- BlackRock added 4,476 BTC and 19,977 ETH, boosting its crypto ETF holdings significantly.
- Ethereum ETFs saw $80.14M in inflows, signaling renewed institutional confidence.
- Retail spot trading activity remains low, suggesting early-cycle investor hesitation.
- Firms like K33 and Metaplanet expand crypto exposure through treasuries and bond sales.
Institutional investment in crypto has surged again, led by BlackRock’s iShares Bitcoin and Ethereum ETFs. Data shows consistent inflows across both assets, reinforcing the belief that institutions are taking larger stakes in digital assets.
While prices remain volatile, investor behavior hints at a deeper market transformation. At the same time, retail interest appears subdued, which some analysts say reflects early-cycle conditions. This shift could reshape price dynamics as institutional participation grows more dominant.
BlackRock Drives Major Inflows into Crypto ETFs
On May 29, on-chain data platform Lookonchain reported that Bitcoin ETFs recorded net inflows of 4,007 BTC, valued at approximately $430.25 million.
Ethereum ETFs followed with 30,183 ETH in net inflows, worth around $80.14 million. The bulk of this activity came from BlackRock’s iShares funds. iShares added 4,476 BTC worth $480.62 million and 19,977 ETH valued at $53.04 million.
May 29 Update:
10 #Bitcoin ETFs
NetFlow: +4,007 $BTC(+$430.25M)🟢#iShares(Blackrock) inflows 4,476 $BTC($480.62M) and currently holds 663,773 $BTC($71.27B).
9 #Ethereum ETFs
NetFlow: +30,183 $ETH(+$80.14M)🟢#iShares(Blackrock) inflows 19,977 $ETH($53.04M) and currently holds… pic.twitter.com/PoGNCC7oSp
— Lookonchain (@lookonchain) May 29, 2025
The firm’s holdings now stand at 663,773 BTC ($71.27 billion) and 1,370,710 ETH ($3.64 billion). These numbers highlight the growing role of traditional finance giants in shaping the crypto market’s liquidity and trend direction.
BlackRock wasn’t the only institution making headlines. Analyst Crypto Patel noted multiple new treasury initiatives by global firms. Norway’s K33 raised $5.5 million to adopt a Bitcoin-focused strategy, while Metaplanet issued $21 million in zero-interest bonds to acquire BTC.
Institutions are going all-in on crypto:
🔹 Norway’s K33 secures $5.5M to adopt a Bitcoin treasury strategy
🔹 Metaplanet issues $21M in 0% bonds to buy more BTC
🔹 Nasdaq-listed VivoPower unveils $121M XRP-focused treasury initiative
🔹 Bergen County to tokenize $240B in… pic.twitter.com/y2X8gpzJyl
— Crypto Patel (@CryptoPatel) May 29, 2025
Additionally, Nasdaq-listed VivoPower revealed a $121 million XRP-focused plan. In a separate move, Bergen County announced a long-term $240 billion tokenization initiative on Avalanche. These developments suggest institutional players are diversifying their exposure beyond Bitcoin and Ethereum.
Retail Traders Still on the Sidelines Despite Price Recovery
Despite rising prices and ETF activity, retail participation remains limited. Market observer Crypto Rand pointed out that retail sentiment is unusually quiet for this phase of the cycle. Referencing a spot trading activity chart, he said previous tops often coincided with retail “overcrowding.”
Spot trading activity chart, Source: XThis time, however, the absence of retail noise may imply further room for growth. He emphasized that many crypto traders wrongly believe they’ve missed the opportunity, even as mainstream awareness lags.
The crypto community remains split on institutional control. While some view it as a sign of adoption, others worry about future sell-offs. Lookonchain’s data received mixed reactions, with some users calling it an “adoption freight train” and others warning of eventual dumps.
However, the growing presence of institutional capital could anchor the market in the long run. With retail still disengaged, institutional momentum continues to shape the next chapter of the crypto market.
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