BlackRock's spot Bitcoin ETF, known as IBIT, has seen significant inflows in recent days, with an impressive streak of 19 consecutive days of inflows, marking its longest run of inflows so far this year. On May 9 alone, the fund pulled in $356.2 million, bringing its total inflows over the past trading week to $1.03 billion, according to Farside data.

This remarkable inflow streak for IBIT began on April 14 and has continued amidst a volatile Bitcoin market, with the leading cryptocurrency trading between $83,152 and $103,000 during this period. However, market sentiment has been on the rise as Bitcoin reclaimed and maintained a price above $90,000 on April 23, and then surged past the $100,000 mark on May 8 for the first time since February 1.

BlackRock's Bitcoin ETF has a history of success, with its longest inflow streak since its launch in January 2024 lasting 104 days, from the launch date through April 23, 2024. This streak coincided with Bitcoin hitting a new all-time high of $73,679 in March before retracing back to the mid-$60,000 range.

In recognition of its performance, BlackRock's spot Bitcoin ETF was awarded the "Best New ETF" at the annual etf.com ETF awards on April 23. Bloomberg ETF analyst Eric Balchunas expressed his support for the award, stating that it felt right to him.

The increasing institutional adoption of Bitcoin has been a key factor in driving these inflows. André Dragosch, head of European research at Bitwise, highlighted the expanding institutional adoption of Bitcoin, suggesting that this trend could lead to structural inflows that may surpass gold's market capitalization and propel Bitcoin's price beyond $1 million by 2029.

Dragosch shared his prediction during an interview on the Chain Reaction daily X spaces show on April 30, stating, "Our in-house prediction is $1 million by 2029 so that Bitcoin will match gold's market cap and total addressable market by 2029."

With the ongoing success of BlackRock's spot Bitcoin ETF and the optimistic outlook for Bitcoin's future price potential, it seems that institutional interest in cryptocurrencies is continuing to grow, paving the way for further adoption and investment in the digital asset space.

Source: https://cointelegraph.com/news/blackrock-ibit-bitcoin-etf-inflow-streak-largest-2025?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound