BlackRock’s spot Bitcoin ETF, known in the market as IBIT, continues to make waves, recently securing an impressive $356.2 million in inflows on May 9. This isn’t just a flash in the pan; it’s the culmination of a 19-day inflow streak, the longest such streak this year. Investors are taking note as the fund’s growth coincides with Bitcoin’s own tumultuous yet upward trajectory.
Unpacking the Streak
Since April 14, IBIT has been on a roll, absorbing capital as Bitcoin prices ricocheted between $83,152 and a staggering $103,000. Just last month, the cryptocurrency market held its breath as Bitcoin reclaimed the $90,000 mark on April 23. By May 8, it had surged past $100,000, a price it hadn’t seen since February 1. Analyst Eric Balchunas from Bloomberg commented in an X post, “It feels right to me,” reflecting on IBIT’s recognition as “Best New ETF” at the etf.com awards on April 23.
The ETF’s robust performance isn’t an isolated incident, either. The past trading week alone saw IBIT rake in a hefty $1.03 billion, according to Farside data. Such momentum harkens back to its previous longest streak this year, a nine-day run in January coinciding with President Trump’s inauguration. During that stretch, the fund absorbed substantial inflows, underscoring its resilience in varied market conditions.
A Broader Market Picture
The larger narrative isn’t just about one ETF’s success. Since the debut of spot Bitcoin ETFs in January 2024, approximately $41.13 billion has flowed into these investment vehicles. That initial period saw a blockbuster 104-day inflow streak, pushing Bitcoin to a then all-time high of $73,679 in March 2024, before it settled back into the mid-$60,000s. This follows a pattern of institutional adoption, which we detailed in Bitcoin ETFs, gov’t adoption to drive BTC to $1M by 2029: Finance Redefined.
In the midst of this capital influx, Bitcoin’s appeal to institutional investors is growing. André Dragosch, head of European research at Bitwise, shared his insights on the Chain Reaction daily X spaces show, predicting Bitcoin could surpass gold’s market capitalization by 2029. He posits, “Our in-house prediction is $1 million by 2029,” suggesting Bitcoin’s structural inflows could propel it to new heights.
The Road Ahead
As institutional adoption gathers steam, questions linger about the sustainability of this growth. Is Bitcoin’s march towards institutional dominance truly inevitable? Skeptics might argue that while current trends are favorable, market volatility remains a formidable adversary. Yet, with each passing day of inflows, BlackRock’s IBIT seems to reinforce the narrative of Bitcoin’s increasing legitimacy in the financial world. For a deeper dive into the competitive landscape, see Why Grayscale’s Bitcoin Trust still dominates ETF revenue in 2025.
For investors, the takeaway is clear: Bitcoin’s journey is as dynamic as ever. With IBIT leading the pack, the landscape of cryptocurrency ETFs might just be setting the stage for a new era of digital asset investment. But as always, the road ahead is paved with uncertainties—raising the tantalizing question of what heights Bitcoin and its associated funds might reach in the coming months and years.
Source
This article is based on: BlackRock’s Bitcoin ETF posts $356 million inflows, marking the longest streak of 2025
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow
- Franklin Templeton Backs Bitcoin DeFi Push, Citing ‘New Utility’ for Investors
- Strategy’s $84B Bitcoin Expansion Plan Backed by Wall Street Analysts
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.
