BlackRock’s iShares Bitcoin Trust (IBIT) has experienced its largest influx in two weeks, as traders eagerly snap up shares in the surging cryptocurrency. On May 21, IBIT attracted a net inflow of $530.6 million, its most significant single-day intake since early May, according to Farside Investors. This surge comes as Bitcoin’s price flirts with the $112,000 mark, prompting a scramble for US spot Bitcoin exchange-traded funds (ETFs).
Bitcoin ETF Frenzy
The influx phenomenon isn’t isolated to BlackRock alone. The total inflow for all 11 spot ETFs reached a staggering $607.1 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) secured the second-largest inflow of the day, drawing in $23.5 million. Bloomberg’s senior ETF analyst, Eric Balchunas, described the scene as a “classic feeding frenzy,” triggered by Bitcoin’s recent price surge. “All the Bitcoin ETFs are elevated,” Balchunas noted, “most are gonna see 2x their average flows incoming.” This follows a pattern of institutional adoption, which we detailed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow.
Interestingly, IBIT’s influx happened against the backdrop of a single-day acquisition of 4,931 BTC, dwarfing the 450 BTC mined on the same day. This stark contrast underscores the voracious appetite for Bitcoin ETFs as the cryptocurrency’s value races to new milestones. Nate Geraci, president of ETF Store, commented on the trading volume, suggesting that “given trading volume today, expect these inflow numbers to increase.”
Historical Context and Market Dynamics
Bitcoin’s current rally is reminiscent of its performance in January, when trading volumes soared amid a then all-time high. The recent inflow figures suggest that history might be repeating itself, albeit with a more frenzied pace. IBIT’s trading volume, for instance, has surged to levels last seen at the beginning of the year, indicating heightened market activity.
The broader market dynamics are also at play. Jeff Mei, BTSE’s operations chief, noted that investors are “crowding into Bitcoin ETFs,” with a whopping $3.6 billion in net inflows this month alone. Mei believes this trend could persist, especially if companies continue to seek capital through public markets. He added that the momentum might even accelerate if the Federal Reserve opts for interest rate cuts in the coming months—something market watchers are keeping a keen eye on. For more on the market’s resilience and potential concerns, see Bitcoin Surpasses $95K Amid Resilient U.S. Stocks, Analysts Voice Concerns Over Market Perception.
A Look Ahead
Jupiter Zheng, partner at HashKey Capital, anticipates increased volatility as Bitcoin ventures into “uncharted price discovery territory.” He pointed out that unstable geopolitical and macroeconomic factors are prompting investors to weigh Bitcoin’s long-term value. This sentiment underscores the complexity of the current market landscape, where optimism is tempered by caution.
As Bitcoin nudges ever closer to the $112,000 threshold, questions linger about the sustainability of this upward trajectory. Will the inflows continue to rise as more investors pile into ETFs? And how will global economic conditions influence the next chapter of Bitcoin’s journey?
The crypto world watches with bated breath, aware that in this volatile market, fortunes can change in the blink of an eye. Whatever unfolds, one thing is certain: the intrigue and excitement surrounding Bitcoin and its ETFs are far from over.
Source
This article is based on: BlackRock’s Bitcoin ETF notches 2-week high inflow as BTC nears $112K
Further Reading
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- Why Grayscale’s Bitcoin Trust still dominates ETF revenue in 2025
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
