BlackRock’s IBIT Streak Hits 16 Days: Is This the Strongest Signal for Bitcoin Yet?
BlackRock’s iShares Bitcoin Trust (IBIT) has recorded 16 consecutive days of inflows, a strong signal of demand as Bitcoin approaches $97,000.
The ETF’s performance is a sign of a strong cryptocurrency market driven by institutional interest and global economic factors.
Also read: Bitcoin to Reshape Corporate Treasuries with $330B in Forecasted Inflows
IBIT Dominates as Investors Pour Millions into Bitcoin ETF
On May 6, IBIT recorded an inflow of approximately 280 Bitcoin, equivalent to $27 million at Bitcoin’s price of $96,562, including sponsor fees totaling $36.16 million USD. Since April 9, 2025, the ETF has added nearly $4.7 billion of new capital, approaching a $5 billion milestone, according to market data.
This week, IBIT has been the only U.S. spot Bitcoin ETF to report consistent inflows, while others, such as Grayscale’s GBTC, saw outflows of an estimated $90 million on May 6, though final figures are pending confirmation.
US Bitcoin ETF inflows (Source: Farside Investors)
The continuous inflows show the growing institutional interest in Bitcoin exposure through regulated assets.
Industry analysts suggest Bitcoin ETFs could see high asset growth, potentially doubling assets under management relative to gold ETFs in the coming years, driven by increasing retail and institutional adoption.
Also read: When Companies Bet on Bitcoin, It’s Not Always a Smart Signal
Bitcoin Hits $97,583 as Market Heats Up
The Bitcoin price has followed the trend with IBIT’s inflows, reaching $96,562 on May 7, 2025, following a surge and briefly hitting $97,583 before correction.
The price is a clear recovery from a mid-April low of approximately $76,000, supported by institutional buying and positive market sentiment.
The surge to $97,583 shows Bitcoin’s resilience, with IBIT’s inflows suggesting institutional buying is contributing to price stability. Investors are monitoring whether Bitcoin can sustain this level following ongoing market developments.
Geopolitics and New Funds Drive Bitcoin’s Surge
Several factors are influencing Bitcoin’s price and ETF inflows. There have been reports of New Hampshire debating Bitcoin reserve legislation, with unconfirmed claims it has been passed on May 6, 2025, though no official verification has been made at the moment.
Such state-level proposals could boost Bitcoin’s credibility as a reserve asset, potentially attracting further institutional investment.
Geopolitical developments also appear to be among the key drivers. The Washington Post reported planned high-level U.S.-China trade talks, which could stabilize global markets and support risk assets like Bitcoin.
Meanwhile, the cryptocurrency ETF market is expanding, with recent filings for funds such as CoinShares’ proposed XRP and Litecoin ETFs, a testament to the growing market demand.
Competition Heats Up as Bitcoin ETFs Reshape the Market
BlackRock’s ETF inflows and Bitcoin’s price strength are indicators of a maturing cryptocurrency market.
With IBIT approaching $5 billion in inflows and Bitcoin testing $97,583, the market shows potential for further growth and new highs. However, competition among ETFs continues, as outflows from funds such as GBTC show market dynamics.
For investors, spot Bitcoin ETFs like IBIT offer a regulated avenue for exposure, with current trends showing opportunity.
As institutional adoption grows and market infrastructure continues, Bitcoin and related financial products are likely to gain visibility.
Investors will observe if IBIT’s inflow streak continues and whether Bitcoin can break above $97,000 in the near term.
