US M2: Hits $23 Trillion Record High

US M2 money supply just hit $23 trillion for the first time in history after a $247.8 billion surge in May, the largest monthly increase since May 2021, pushing year-to-date expansion near $700 billion and lifting the total $8 trillion higher since 2020. Money market funds reached $7.7 trillion, up 47 percent in two and a half years, with Fidelity, Schwab, JPMorgan, Vanguard and BlackRock controlling 71 percent of that inflow. The last comparable M2 expansion in 2020-2021 preceded the strongest bull market in stocks, real estate and crypto in modern history, and analysts now track how any future Fed rate cuts could redirect portions of those funds into risk assets including BTC and broader crypto market rally flows.