{"id":128738,"date":"2025-05-07T06:20:27","date_gmt":"2025-05-07T06:20:27","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128738"},"modified":"2025-05-07T06:20:27","modified_gmt":"2025-05-07T06:20:27","slug":"blackrock-bitcoin-etf-clocks-16-days-of-inflow-as-btc-reclaims-97k","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128738","title":{"rendered":"BlackRock Bitcoin ETF clocks 16 days of inflow as BTC reclaims $97K"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsInvestors have been piling into BlackRock\u2019s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset\u2019s run up to $97,000 on May 7.<br \/>\nThe BlackRock iShares Bitcoin Trust has seen 16 days of inflows for the spot BTC ETF, with a further 280 Bitcoin (BTC) or around $36 million piling into the fund on May 6, according to HODL15Capital.\u00a0\u00a0<br \/>\nThe inflow streak was noted by ETF Store President Nate Geraci, who also observed on X that the fund was approaching $5 billion in new capital.\u00a0<br \/>\n\u201cI remember when naysayers didn\u2019t think spot Bitcoin ETFs would take in $5 billion in total last year,\u201d he added.\u00a0<br \/>\n\u201cIBIT alone has done this in a few weeks, more than a year after launch.\u201d<br \/>\nThe BlackRock fund (IBIT) has seen around $4.7 billion in inflows since its last outflow day on April 9.<br \/>\nAdditionally, it is the only spot BTC ETF in the United States to post inflows this week, with all other funds outflowing assets or seeing zero flows since May 1, according to Farside Investors.\u00a0<br \/>\nThe last trading day on May 6 saw an aggregate outflow of $86.4 million as Grayscale\u2019s GBTC shed almost $90 million, offsetting the BlackRock inflows.\u00a0<br \/>\nSpot Bitcoin ETFs see first outflow day this month. Source: CoinglassIt is a really good sign for the long term, commented Bloomberg ETF analyst Eric Balchunas, adding that it \u201cInspires confidence in our call that BTC ETFs will have triple gold\u2019s [ETF\u2019s] AUM [assets under management] in 3 to 5 years.\u201d<br \/>\nRelated: US Bitcoin ETFs bought 6x more than BTC miners produced last week<br \/>\nIn related news, BattleShares has filed for four ETFs on May 6 aimed at pitting Bitcoin against Ethereum and gold with a mix of long and short positions.<br \/>\n\u201cA new ETF is going to go long Bitcoin and short Ether,\u201d commented Balchunas about one of the ETFs, who added, \u201cThe ticker should be MAXI.\u201d<br \/>\nBitcoin back at resistance\u00a0<br \/>\nSpot Bitcoin prices have returned to resistance, briefly topping $97,500 during early trading on May 7.\u00a0<br \/>\nThe asset revisited May 2 price levels but could not advance further, falling back to $96,538 at the time of writing, according to CoinGecko.\u00a0<br \/>\nThe 2.2% daily gain may have been partly driven by New Hampshire becoming the first US state to pass strategic Bitcoin reserve legislation on May 6.\u00a0<br \/>\n\u201cThe odds of multiple states passing Strategic Bitcoin Reserve legislation into law just went up by a massive amount today,\u201d commented Satoshi Action Fund co-founder and CEO Dennis Porter.\u00a0<br \/>\nSentiment may have also been boosted by reports that the United States and China are planning to hold high-level trade talks in Switzerland this weekend, according to the Washington Post.\u00a0<br \/>\n\u201cWe will meet on Saturday and Sunday to discuss our shared interests,\u201d Treasury Secretary Scott Bessent wrote on X. \u201cThe current tariffs and trade barriers are unsustainable, but we don\u2019t want to decouple. What we want is fair trade,\u201d he added.\u00a0<br \/>\nMagazine: Bitcoin to $1M \u2018by 2029,\u2019 CIA tips its hat to Bitcoin: Hodler\u2019s Digest<a href=\"https:\/\/cointelegraph.com\/news\/blackrock-bitcoin-etf-sees-16-day-inflow-streak-btc-reclaims-97k?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsInvestors have been piling into BlackRock\u2019s spot Bitcoin exchange-traded fund for over three weeks straight, culminating in the asset\u2019s run up to $97,000 on May 7. The BlackRock&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128738"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128738"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128738\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128738"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}