FameEX Hot Topics | BlackRock Bitcoin ETF Logs 16 Straight Days of Inflows Amid BTC Surge to $97K

BlackRock’s iShares Bitcoin Trust (IBIT), the largest U.S. spot Bitcoin ETF, has marked an impressive run of 16 consecutive days of net inflows, totaling approximately $4.7 billion since its last recorded outflow on April 9. On May 6 alone, IBIT added 280 Bitcoin—valued at roughly $36 million—according to HODL15Capital. This surge in capital came just ahead of Bitcoin’s brief spike past the $97,000 mark during early trading hours on May 7.

The persistent inflows drew attention from industry observers. Nate Geraci, President of ETF Store, commented on the milestone via X, highlighting that IBIT is nearing $5 billion in new capital—an achievement that seemed unlikely to early skeptics. “I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” he wrote. “IBIT alone has done this in a few weeks, more than a year after launch.”

Among U.S.-listed spot Bitcoin ETFs, IBIT currently stands as the only fund showing inflows this week. Other major ETFs, including Grayscale’s GBTC, saw no inflows or posted net redemptions. On May 6, total net outflows across all U.S. Bitcoin ETFs amounted to $86.4 million, largely due to $90 million in withdrawals from GBTC—effectively negating the gains made by IBIT.

Bloomberg ETF analyst Eric Balchunas interpreted IBIT’s performance as a positive long-term indicator for the ETF market. He reiterated his forecast that Bitcoin ETFs could eventually manage triple the assets of gold ETFs over the next three to five years. Balchunas also teased the upcoming launch of a new ETF designed to “go long Bitcoin and short Ether,” joking that it could be nicknamed “MAXI.”

Bitcoin’s price has also shown strength alongside these inflows. On May 7, it briefly touched $97,500 before settling near $96,538, representing a 2.2% daily gain, per CoinGecko. The price movement was possibly supported by macro developments, including New Hampshire becoming the first U.S. state to pass legislation establishing a strategic Bitcoin reserve—an initiative hailed by Satoshi Action Fund CEO Dennis Porter as a catalyst for similar state-level action nationwide.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.