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.
IBIT’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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