BlackRock's IBIT Bitcoin ETF Surpasses GLD Inflows, Bitcoin ETFs See $3.1 Billion Weekly Record
1min read BlackRock's IBIT Bitcoin ETF has recently surpassed the gold ETF GLD in terms of inflows, marking a significant shift in investor interest towards Bitcoin. On May 1, Bitcoin ETFs experienced a substantial inflow of $422 million, with IBIT leading the charge at $351 million. This influx is part of a broader trend where Bitcoin spot ETFs have seen net inflows exceeding $1.80 billion for three consecutive weeks, reaching a cumulative inflow record high. Notably, between April 20 and 26, Bitcoin spot ETFs saw a net inflow of $3.1 billion, setting a weekly record.
This trend indicates a growing institutional interest in Bitcoin. Bitcoin ETFs are purchasing BTC at a rate six times higher than the mining rate, with IBIT leading these massive inflows. The steady growth in Bitcoin ETF investments signals a strong desire from institutional investors to gain exposure to Bitcoin, further pushing its price upward. This shift in investor sentiment is a strong signal for the future growth of Bitcoin ETFs, as more institutional investors look to diversify their portfolios with cryptocurrency assets.
The surge in inflows to IBIT, surpassing GLD, is a clear indication of the growing acceptance and interest in Bitcoin as a viable investment option. This trend is likely to continue as more institutional investors recognize the potential of Bitcoin and other cryptocurrencies. The consistent and substantial inflows into Bitcoin ETFs, particularly IBIT, suggest a growing institutional interest in Bitcoin. This trend is further supported by the fact that Bitcoin ETFs are purchasing BTC at a rate six times higher than the mining rate, with IBIT leading these massive inflows. The steady growth in Bitcoin ETF investments signals a strong desire from institutional investors to gain exposure to Bitcoin, further pushing its price upward. This shift in investor sentiment is a strong signal for the future growth of Bitcoin ETFs, as more institutional investors look to diversify their portfolios with cryptocurrency assets.
