The iShares Bitcoin Trust (IBIT) exchange-traded fund has already amassed $6.22 billion in May, the largest monthly inflow in the history of the exchange-traded fund that has dominated the spot Bitcoin category so far.  IBIT, which received regulatory approval in January 2024, generated nearly $500 million in investments on Wednesday and has received net inflows every day this month except one, according to data from U.K. asset manager Farside Investors.   “[It's] starting to get ridiculous,” quipped Nate Geraci, president of investment advisor ETF Store, in a tweet Thursday. Another nearly *$500mil* into iShares Bitcoin ETF… Starting to get ridiculous. Inflows 30 of past 31 days. Nearly $9.5bil in new $$$. IBIT comfortably in top 5 ETFs by inflows this year (out of 4,200+ ETFs). — Nate Geraci (@NateGeraci) May 29, 2025 Interest in the funds, which won approval last year, has surged as the price of the underlying asset has risen amid hopeful signs about inflation and other macroeconomic indicators. Bitcoin has also benefited from renewed investor perceptions of the asset as a safe haven largely immune to the currency volatility that has characterized the past few months. To be sure, the monthly total could dip if IBIT hemorrhages assets Thursday and Friday. The previous monthly high in March 2024 was only slightly lower.  IBIT has added daily investments except for May 13 when it netted zero flows, and the fund has accounted for 90% of all spot Bitcoin ETF flows. It received a May high of $877 million in investments on May 22 and more than $3.8  billion over the past eight days.  U.S.-listed spot crypto ETFs as a whole have had inflows of $6.74 billion for the month. Overall, IBIT is “essentially responsible” for all spot crypto ETF net inflows in May and for all of 2025, Sumit Roy, senior analyst at Etf.com, told Decrypt.  Roy added: “Those numbers really showcase how dominant IBIT has become and how it's become THE go-to ETF for investors seeking crypto exposure in the ETF wrapper.”  Institutional and retail traders have flocked to crypto ETF funds amid a more favorable political climate for digital assets in the U.S. that has also spurred countries and corporations to embrace Bitcoin.  Pakistan crypto adviser Bilal Bin Saqib unveiled on Wednesday at Bitcoin 2025 that the South Asian country is establishing its own Bitcoin strategic reserve. Earlier this week, Trump Media announced it would raise $2.5 billion to invest in the token, while firms such as Semler Scientific and Strategy continue to add millions of dollars of the asset to their treasuries.  The heightened interest in Bitcoin has helped send its price higher. Bitcoin was recently trading at roughly $106,500, down about 1% over the past 24 hours, although BTC is up almost 12% for the past month CoinGecko data shows. The largest crypto by market value hit a record high above $112,000 on May 22, a day after U.S. President Donald Trump held a private White House dinner with 220 crypto investors who held his meme coin. Edited by James Rubin