BlackRock’s iShares Bitcoin Trust (IBIT) has achieved unprecedented investor demand, recording 33 consecutive days of net inflows through May 28 that pushed monthly investments to record levels. The fund attracted $481 million on Wednesday alone, bringing its 30-day total to $9 billion according to CryptoRank data.
The ETF’s remarkable $4.26 billion inflow streak over 10 trading days represents 96% of all U.S. spot Bitcoin ETF flows during this period. This surge comes despite outflows from competitors like Fidelity’s FBTC (-$14M) and Ark Invest’s ARKB (-$34.3M) on May 28, as reported by The Block.
IBIT now holds over 650,000 BTC worth $71 billion in assets under management (AUM), surpassing the combined net inflows of all other U.S. Bitcoin ETFs since their January 2024 launch. This dominance persists despite Grayscale’s GBTC continuing to bleed assets with $23.1 billion in outflows.
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BlackRock’s ETF Market Dominance
IBIT’s $481 million single-day inflow on May 28 extended its record-breaking performance, marking the fund’s longest inflow streak since April 2024. The ETF has absorbed $48.8 billion since launch, outperforming the entire U.S. spot Bitcoin ETF market’s $45.6 billion net flows due to GBTC’s substantial outflows.
Recent flow patterns show stark contrasts among major players:
| ETF | May 28 Flow | 30-Day Total |
|---|---|---|
| IBIT | +$481M | +$9B |
| FBTC | -$14M | +$2.1B |
| ARKB | -$34.3M | +$860M |
Bitcoin Price Volatility and ETF Flows
The inflows coincided with Bitcoin trading between $83,152 and $103,000 since April 14, according to Cointelegraph. The cryptocurrency reclaimed the $100,000 level on May 8 for the first time since February, creating favorable conditions for ETF investments.
Market analysts note IBIT’s flows show stronger correlation with institutional sentiment than Bitcoin’s price action. The ETF maintained inflows even during BTC’s 18% correction from March’s $73,679 all-time high to mid-$60,000 levels.
Competitive Landscape and Investor Behavior
Fidelity’s FBTC remains IBIT’s closest competitor with $2.1 billion in 30-day inflows, though it experienced rare outflows last week. Ark Invest’s ARKB faces steeper challenges, with its 0.21% fee failing to prevent $34.3 million in May 28 redemptions.
The flow disparities highlight investors’ preference for BlackRock’s brand recognition and liquidity. IBIT’s average daily trading volume of $1.2 billion dwarfs ARKB’s $78 million, creating a self-reinforcing cycle of institutional adoption.
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Market Impact and Institutional Adoption
BlackRock’s ETF success signals growing institutional acceptance of cryptocurrency as a legitimate asset class. The fund’s $71 billion AUM now rivals traditional gold ETFs, suggesting Bitcoin’s maturation as a store-of-value asset.
- ETF
- Exchange-Traded Fund – A marketable security tracking indexes, commodities, or assets like Bitcoin that trades on exchanges.
- AUM
- Assets Under Management – The total market value of assets a fund manages for investors.
- Net Inflows
- The net amount of new capital entering an investment fund, calculated as inflows minus outflows.
- Spot Bitcoin ETF
- An ETF that directly holds Bitcoin rather than derivatives, providing direct exposure to BTC’s price movements.
