#BTCPrediction
Spot Bitcoin ETFs Record Staggering Inflows
Balchunas’s Bitcoin prediction was inspired by the strong spot BTC ETF inflows, particularly BlackRock’s IBIT, despite the choppy price action.
With a staggering $531 million in inflows on Monday, IBIT has now recorded 15 consecutive days of inflows, bringing its individual AUM to $44.2 billion.
Balchunas noted that IBIT’s year-to-date inflows have reached $6.963 billion, despite Bitcoin’s price rising by only 4% YTD. In contrast, SPDR’s GLD gold ETF has recorded just $6.5 billion in inflows, despite a 23% rally in the price of gold this year.
“To take in more cash in that scenario is really good sign for long term, and inspires confidence in our call that btc ETFs will have triple gold’s aum in 3-5yrs.”
Notably, BlackRock’s spot Bitcoin ETF recorded $674 million in inflows on Friday and $970 million on April 28th, data from Farside Investors reveals, which further confirms that a new BTC bull market is
underway.