tl;dr
BlackRock’s iShares Bitcoin Trust (IBIT) has experienced massive inflows, with $481 million entering on May 28, marking 33 consecutive days without outflows since April 9. Inflows have totaled nearly $9.5 billion this year, placing IBIT among the top 5 ETFs by inflows out of over 4,200 funds. Since ...
BlackRock’s iShares Bitcoin Trust (IBIT) has seen an extraordinary influx of capital, with nearly $9.5 billion added over 33 consecutive days of inflows, positioning it among the top ETFs by inflows this year.
IBIT currently manages approximately $72 billion in assets, representing around 650,000 BTC, underscoring robust institutional demand for Bitcoin as retail participation wanes.
Industry experts speculate that major U.S. corporations like Meta or Microsoft adding Bitcoin to their balance sheets could profoundly shift market sentiment, amplifying the institutional adoption narrative.
Despite Bitcoin’s slight daily price dip and the total crypto market capitalization dropping to $3.55 trillion, Ethereum posted a 4% gain, while most altcoins held steady.
The ETF’s recent surge includes a significant inflow of $481 million on May 28, marking 33 straight days without withdrawals since April 9. This trend has helped IBIT climb into the top 5 ETFs by inflows out of over 4,200 funds nationwide.
Since its January 2024 launch, IBIT has attracted $48.8 billion in inflows, with BlackRock standing alone among Bitcoin ETFs in experiencing inflows recently, while competitors faced outflows.
Market analysts highlight this as a clear signal of institutional demand steering the rally, supported by corporate Bitcoin acquisitions such as GameStop’s recent addition.
As Bloomberg analyst Eric Balchunas notes, it seems inevitable that a heavyweight U.S. company will add Bitcoin to their balance sheet soon, possibly Meta, which could act as a market catalyst much like notable celebrity cases have brought real-world issues into the spotlight.
Meanwhile, the crypto market’s overall 2% dip has been led by Bitcoin’s 1% fall, unable to break past key resistance near $108,000, while Ethereum bucked the trend with a 4% rise, surpassing $2,750 during Asian trading hours.