BlackRock Bitcoin ETF clocks 16 days of inflow as BTC reclaims $97K

Investors have been piling into BlackRock’s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset’s run up to $97,000 on May 7.

The BlackRock iShares Bitcoin Trust has seen 16 days of inflows for the spot BTC ETF, with a further 280 Bitcoin BTCUSD or around $36 million piling into the fund on May 6, according to HODL15Capital.

The inflow streak was noted by ETF Store President Nate Geraci, who also observed on X that the fund was approaching $5 billion in new capital. 

“I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” he added. 

“IBIT alone has done this in a few weeks, more than a year after launch.”

The BlackRock fund (IBIT) has seen around $4.7 billion in inflows since its last outflow day on April 9.

Additionally, it is the only spot BTC ETF in the United States to post inflows this week, with all other funds outflowing assets or seeing zero flows since May 1, according to Farside Investors. 

The last trading day on May 6 saw an aggregate outflow of $86.4 million as Grayscale’s GBTC shed almost $90 million, offsetting the BlackRock inflows.