BlackRock's Bitcoin ETF has now achieved inflows for 19 consecutive days, marking the longest inflow record for any global asset management company this year.
BlackRock's spot Bitcoin ETF (IBIT) saw inflows again in trading this week, attracting $356.2 million on May 9. The fund has now extended its inflow streak to 19 days, the longest inflow period so far this year.
The inflow momentum for IBIT has continued since April 14, coinciding with Bitcoin's market volatility at $103,895, during which the asset traded between $83,152 and $103,000. However, after the asset's price rebounded and maintained above $90,000 on April 23, market sentiment improved, leading to a rise above $100,000 for the first time since February 1 on May 8.
As Bitcoin's price skyrocketed, Bitcoin ETFs also surged.
Data from Farside shows that IBIT's inflows reached $1.03 billion just in the past week's trading.
Before the current 19-day inflow, IBIT had its longest inflow period of nine days around U.S. President Donald Trump's inauguration on January 20, lasting from January 15 to January 28, 2025.
Since the launch of the spot Bitcoin ETF in January 2024, IBIT's longest inflow duration has been 104 days, lasting from its launch until April 23, 2024.
Meanwhile, Bitcoin's price hit a historic high of $73,679 in March, before falling back to around the $60,000 range.
BlackRock's Bitcoin ETF recently received an award.
On April 23, BlackRock's spot Bitcoin ETF was awarded 'Best New ETF' at the etf.com Annual ETF Awards. Shortly after, Bloomberg ETF analyst Eric Balchunas commented in a post on X, 'I think this ETF is good.'
André Dragosch, Head of Research at Bitwise Europe, recently stated that the growing institutional adoption of Bitcoin may provide the necessary 'structural' inflows to surpass gold's market capitalization and push its price above $1 million before 2029.
“We internally predict that Bitcoin's price will reach $1 million by 2029. Therefore, by 2029, Bitcoin's market capitalization and total potential market will match that of gold,” he told Cointelegraph during the Chain Reaction Daily X Space show on April 30.