BlackRock’s spot Bitcoin ETF (IBIT) capped off the trading week with another day of inflows, pulling in $356.2 million on May 9. The fund has now extended its inflow streak to 19 consecutive days — its longest run of inflows so far this year.
IBIT’s inflow streak has been ongoing since April 14, and has coincided with a volatile Bitcoin (BTC) market, with the asset trading between $83,152 and $103,000 over the period.
However, market sentiment has been increasing after the asset reclaimed and held above the $90,000 price on April 23 before reclaiming the $100,000 price on May 8 for the first time since Feb. 1.
Bitcoin ETFs ticking along as Bitcoin price spikes
Over the past trading week alone, IBIT posted $1.03 billion in inflows, according to Farside data.
Prior to the current 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.
Approximately $41.13 billion has flown into the spot Bitcoin ETFs since their launch in January 2024. Source: FarsideIBIT’s longest inflow streak since the spot Bitcoin ETFs launched in January 2024 lasted 104 days, stretching from the launch date through April 23, 2024.
The streak coincided with Bitcoin reaching a new all-time high of $73,679 in March before pulling back into the mid-$60,000 range.
BlackRock’s Bitcoin ETF recently won an award
On April 23, BlackRock’s spot Bitcoin ETF was named the “Best New ETF” at the annual etf.com ETF awards. In an X post shortly after, Bloomberg ETF analyst Eric Balchunas said it “feels right to me.”
Related: Institutional investors continue to scoop up Bitcoin above $100K
Bitwise’s head of European research, André Dragosch, recently said Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029.
“Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,” he told Cointelegraph during the Chain Reaction daily X spaces show on April 30.
Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K
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