Bitcoin surpasses the 100K USD mark, attracting record ETF inflows and confidence from institutional investors.
Sovereign wealth funds, especially in the UAE, are increasingly accepting Bitcoin as a reserve asset.
Bitcoin [BTC] has officially entered the six-figure price range, currently trading at 103,558.88 USD after rising 0.33% on the day and 7.91% over the past week, according to CoinMarketCap.
This milestone is not only psychologically significant but also indicates growing interest from institutions and sovereign funds.
BlackRock's acceptance of Bitcoin
Notably, BlackRock's spot Bitcoin ETF, IBIT, continues to attract strong capital, recording 356.2 million USD in inflows on May 9, according to Farside Investors.
This fund has had 19 consecutive days of inflows, the longest streak this year, reflecting growing confidence from large-scale investors as Bitcoin gains strong upward momentum.
Interestingly, BlackRock's IBIT has had an impressive inflow streak for 19 days since April 14, attracting over 1.03 billion USD just in the past trading week.
The increase in interest from these institutions coincides with a volatile but upward-trending Bitcoin market, with prices ranging from 83,152 USD to 103,000 USD.
A notable turning point occurred on April 23, when Bitcoin returned to the 90K USD mark, finally surpassing 100K USD on May 8 for the first time since February 1.
The current inflow streak has doubled the previous record of IBIT in 2025, a nine-day stretch around President Donald Trump's inauguration in January, demonstrating strong and sustained confidence from institutional investors.
Adding to this momentum, interest from sovereign funds is also rising, with global entities increasingly exploring the potential of Bitcoin as a strategic asset.
Countries are also rushing into Bitcoin
Michael Bucella of Neoclassic Capital recently highlighted this move, pointing to Bitcoin's resilience and its important development in macro discussions.
In a recent conversation with CNBC, Bucella remarked,
"The UAE, along with many other countries, is buying Bitcoin as a reserve asset."
This reflects how the narrative of Bitcoin acceptance has made significant progress since Trump's electoral victory.
With this asset currently holding steady above the 100K USD mark, integration into the mainstream has become more tangible than ever.
Rifad Mahasneh, CEO of OKX MENA, also emphasized how sovereign wealth funds, especially in regions like the UAE, are accelerating their participation in digital assets.
He said,
"I think the Middle East is clearly a region with many of the world's leading sovereign wealth funds. Many have been and are considering how they can participate in this space in a managed and risk-controlled way. I think that as they evaluate entering the cryptocurrency space, each sovereign wealth fund has its own policies and risk controls that they need to oversee."
So, as ETF funds witness historic inflows and countries explore strategic applications, it is clear that Bitcoin is no longer a fringe asset; it is becoming a mainstay in global financial discussions.
Source: https://tintucbitcoin.com/uae-chap-nhan-bitcoin-ibit-hut-1-ty-usd-su-chuyen-dich-btc-toan-cau/
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