BlackRock’s spot Bitcoin ETF (IBIT) capped off the buying and selling week with one other day of inflows, pulling in $356.2 million on May 9. The fund has now prolonged its inflow streak to 19 consecutive days — its longest run of inflows thus far this yr.
IBIT’s inflow streak has been ongoing since April 14, and has coincided with a unstable Bitcoin (BTC) market, with the asset buying and selling between $83,152 and $103,000 over the interval. However, market sentiment has been rising after the asset reclaimed and held above the $90,000 worth on April 23 earlier than reclaiming the $100,000 worth on May 8 for the first time since Feb. 1.
Bitcoin ETFs ticking alongside as Bitcoin worth spikes
Over the previous buying and selling week alone, IBIT posted $1.03 billion in inflows, according to Farside knowledge.
Prior to the present 19-day streak, IBIT’s longest inflow streak in 2025 was a nine-day stretch surrounding US President Donald Trump’s inauguration on Jan. 20, spanning from Jan. 15 to Jan. 28.
IBIT’s longest inflow streak for the reason that spot Bitcoin ETFs launched in January 2024 lasted 104 days, stretching from the launch date via April 23, 2024.
The streak coincided with Bitcoin reaching a brand new all-time excessive of $73,679 in March earlier than pulling again into the mid-$60,000 vary.
BlackRock’s Bitcoin ETF not too long ago received an award
On April 23, BlackRock’s spot Bitcoin ETF was named the “Best New ETF” on the annual etf.com ETF awards. In an X submit shortly after, Bloomberg ETF analyst Eric Balchunas mentioned it “feels proper to me.”
Related: Institutional investors continue to scoop up Bitcoin above $100K
Bitwise’s head of European analysis, André Dragosch, not too long ago mentioned Bitcoin’s increasing institutional adoption may provide the “structural” inflows essential to surpass gold’s market capitalization and push its worth past $1 million by 2029.
“Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and whole addressable market by 2029,” he informed Cointelegraph throughout the Chain Reaction each day X areas show on April 30.
Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K
