Bitcoin ETFs Resume Inflow Winning Streak; BlackRock’s IBIT Crosses $20B in AUM

Spot Bitcoin ETFs traded in the US added $2.4 billion worth of Bitcoin last month.

This line follows a period from flat to negative after the initial phase of euphoria.

BlackRock’s iShares Bitcoin Fund (IBIT) has surpassed $20 billion in assets under management.

U.S.-based spot Bitcoin ETFs posted net inflows for 15 consecutive sessions yesterday, with the recent influx of money combined with a rise in the price of {{BTC}} pushing BlackRock’s iShares Bitcoin Fund (IBIT) above $20. For the first time, billions of assets are under management.

ETFs attracted about $2.4 billion in fresh money last month, according to Bloomberg Intelligence senior ETF analyst Eric Balchunas. This would be the third largest amount of net inflows in the entire ETF market.

“The ability to rebound with renewed interest after a few bad sell-offs is a rarity for hot sauce type strategies,” Balchunas said in a post on X. “[It] “It shows the strength to endure.”

After the initial euphoria surrounding the launch of spot ETFs, inflows slowed significantly in April and even turned negative for several days; Experts later said this was very normal.

However, net inflows since May 16 have averaged $140 million per day, according to data from IBIT-led Farside Investors. There is IBIT, which attracted $1.1 billion during this period and remains the strongest among the ten funds. As of yesterday, IBIT held 291,563 Bitcoins worth $20.15 billion.