FameEX Hot Topics | BlackRock’s Bitcoin ETF Marks 16-Day Inflow Streak as BTC Tops $97K

BlackRock’s iShares Bitcoin Trust (IBIT), the largest U.S. spot Bitcoin ETF, has recorded 16 consecutive days of inflows, with approximately $4.7 billion in net inflows since its last outflow on April 9. On May 6 alone, the fund attracted 280 additional Bitcoin—roughly $36 million—according to data from HODL15Capital. This surge in capital coincides with Bitcoin’s brief return to the $97,000 level during early trading on May 7.

The inflow streak was highlighted by ETF Store President Nate Geraci, who noted on X that IBIT is nearing $5 billion in new capital. He recalled early skepticism toward spot Bitcoin ETFs, saying, “I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year. IBIT alone has done this in a few weeks, more than a year after launch.”

IBIT currently stands out as the only spot Bitcoin ETF in the U.S. to post inflows this week. Other major funds, including Grayscale’s GBTC, have either seen no activity or experienced net outflows. On May 6, the total net outflow across U.S. Bitcoin ETFs reached $86.4 million, driven largely by GBTC’s $90 million in redemptions, effectively canceling out IBIT’s inflows.

Bloomberg ETF analyst Eric Balchunas described IBIT’s performance as a bullish signal for the long-term ETF market, reinforcing his prediction that Bitcoin ETFs could eventually triple the assets under management (AUM) held by gold ETFs in the next three to five years. He also teased a new ETF that will “go long Bitcoin and short Ether,” suggesting it might be humorously dubbed “MAXI.”

Bitcoin’s price action has also shown strength, briefly surpassing $97,500 on May 7 before pulling back to $96,538, according to CoinGecko. The day’s 2.2% price gain may have been influenced by macro and political developments. On May 6, New Hampshire became the first U.S. state to pass legislation supporting a strategic Bitcoin reserve. Dennis Porter, CEO of the Satoshi Action Fund, commented that the move significantly increases the chances of similar laws being passed in other states.

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