BlackRock Bitcoin ETF IBIT Sees $2B+ in Weekly Inflow, the Second Largest Among US ETFs, Only Behind Vanguard’s VOO

The resurgence in demand for Bitcoin investment products saw the BlackRock Bitcoin ETF IBIT pull in heavy inflows the previous week. Bloomberg’s senior ETF analyst Eric Balchunas highlighted this detail in an X post today, stressing the shift in market sentiments. Per the tweet, the BlackRock iShares Bitcoin Trust (IBIT) had a stellar outing the previous week, outperformed only by Vanguard’s S&P 500 ETF (VOO). Resurgent IBIT Dominates Inflows The IBIT saw a net inflow of $2.48 billion, about 19% of the total positive flows between 28th April and 4th May. Only the VOO saw a better inflow ($3.93 billion) than the BlackRock Bitcoin-focused product.

This renewed traction indicates a changing narrative from earlier sentiments at the beginning of the year, as appetite towards Bitcoin rejuvenates. Balchunas noted that this shift tilted towards market users’ “beta with a side of bitcoin” bias last year. For context, in 2024, ETF investors sought exposure to funds that track the general performance of the market with a touch of Bitcoin, evident in the $117 billion VOO and $37 billion IBIT net inflows. The Bloomberg ETF expert highlighted that recent inflow data suggest that this mentality seems to be crawling back into the market. Meanwhile, the BlackRock Bitcoin product has rebounded from earlier setbacks to record a year-to-date inflow of $6.4 billion. The investment product languished below the top 50 in YTD performance across all ETFs before recent momentum pushed it to 8th on the log. BlackRock Bitcoin Product Dominates Other Bitcoin ETFs While bearing the torch for Bitcoin in the global ETF markets, IBIT has also been schooling other investment products tracking the performance of Bitcoin. The Monday data identified that it has all been about the BlackRock Bitcoin product, with 96% of all inflows to the US Bitcoin spot ETFs moving into IBIT.  For perspective, the funds have a one-month net inflow of $4 billion, with the BlackRock product accounting for a staggering $3.85 billion. Balchunas noted that the massive traction despite the Bitcoin ETF decoupling from the actual BTC price could be due to hedge funds leveraging the variation, driving up trading activities.

Meanwhile, the IBIT has recorded a cumulative net inflow of $43.64 billion since its market debut last year and ranks as the most successful ETF launch in history. The US Bitcoin spot ETF generally holds a net asset of $113.15 billion, about 5.87% of the asset’s market cap.