BlackRock’s Bitcoin Trust Sees Record Inflows, Potentially Setting Stage for Market Rally

Is BlackRock triggering the next crypto bull run?

• BlackRock’s IBIT logged 15 consecutive inflow days, signaling strong institutional Bitcoin demand.

• At the time of writing, Bitcoin was still holding above $90k with bullish indicators.

BlackRock’s iShares Bitcoin Trust (IBIT) has reignited investor momentum with a powerful streak of 15 straight days of inflows, underscoring renewed institutional confidence in Bitcoin (BTC).

BlackRock’s IBIT breaks record!

On May 5, the asset manager acquired 5,613 BTC, valued at approximately $530 million, solidifying IBIT’s dominance while many other ETFs saw flat or negative flows.

Total inflows since inception have now surpassed $44 billion, reinforcing BlackRock’s outsized influence on the broader crypto ETF landscape and demonstrating that institutional appetite for Bitcoin exposure remains robust.

Remarking on the same, Bloomberg analyst Eric Balchunas stated on X,

“Deja vu in the weekly flows w/ $VOO and $IBIT in the top spots, just like last year when ‘beta with a side of bitcoin’ was the big theme. $IBIT now 8th in YTD flows (was out of Top 50 at one point) with +$6.4b. Been hoovering up btc like a madman ever since the decoupling.”

He further noted,

“One interesting note also is $IBIT taking in SO much more than the rest of them (although 10 of them have seen inflows). Usually, there’s much more parity though. Why is this? My theory: return of the HF basis trade and some big fish biting after the decoupling and subsequent rally.”

Will this push Bitcoin’s price to $100k?

Bitcoin’s stability above the $90,000 threshold, even after a modest 0.42% dip in the last 24 hours, indicates growing confidence in the asset’s long-term trajectory.

This price level, once considered ambitious, might now serve as a stepping stone toward the psychological $100,000 mark.

Notably, key technical indicators such as the Chaikin Money Flow (CMF) and Relative Strength Index (RSI) remain in bullish territory, reinforcing the notion that short-term dips could be part of a healthy consolidation phase rather than a reversal.

Source: Trading View

Moreover, BlackRock’s IBIT seems to be experiencing renewed investor appetite. On April 24, IBIT recorded massive inflows worth $442 million.

It’s important to note that BlackRock’s influence extends beyond Bitcoin; its ETHA has significantly contributed to the increasing inflows into Ethereum (ETH) ETFs.

The scale of institutional influx signifies that market participants may be positioning for another upward leg, reinforcing the case for a sustained rally in the coming weeks.

Conclusion

As BlackRock continues to make substantial inroads into the cryptocurrency market with IBIT, investors are keenly watching for indicators that may signal a new all-time high for Bitcoin. The present inflow dynamics and the prevailing technical indicators suggest a period of consolidation, potentially setting the stage for a bullish trend. Moving forward, sustained institutional interest could indeed pave the way for Bitcoin to establish and sustain new highs.