BlackRock Bitcoin ETF Records 16 Consecutive Days of Inflows as BTC Reclaims $97K

Investors continue to pour into BlackRock’s iShares Bitcoin Trust (IBIT), now the largest spot Bitcoin ETF in the U.S., as Bitcoin once again approached the $97,000 mark on May 7. The fund has now seen 16 consecutive trading days of inflows, a major vote of confidence in institutional Bitcoin adoption.

According to data from HODL15Capital, IBIT added 280 BTC (worth approximately $36 million) on May 6 alone. Since April 9, when it last recorded an outflow, the fund has brought in $4.7 billion in capital.

ETF Store President Nate Geraci highlighted the milestone, noting that the fund was close to surpassing $5 billion in new capital. “I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” he wrote on X. “IBIT alone has done this in a few weeks.”

BlackRock Stands Alone Amid ETF Outflows

Notably, BlackRock’s IBIT has been the only U.S. spot Bitcoin ETF to post inflows this week. All other funds recorded either zero activity or net outflows since May 1, according to Farside Investors.

On May 6, total ETF outflows reached $86.4 million, led by Grayscale’s GBTC, which alone shed $90 million—effectively offsetting BlackRock’s gains. Despite this, Bloomberg ETF analyst Eric Balchunas remained bullish, commenting that this sustained performance “inspires confidence in our call that BTC ETFs will have triple gold’s AUM in 3 to 5 years.”

Spot Bitcoin ETFs see first outflow day this month. Source: Coinglass

Bitcoin Rebounds as Macro and Political Tailwinds Grow

Bitcoin briefly topped $97,500 during early trading on May 7 before pulling back to around $96,538, per CoinGecko data. The move reflects a 2.2% daily gain and suggests a retest of previous resistance from May 2.

Bullish momentum may have been boosted by New Hampshire’s landmark legislation, becoming the first U.S. state to pass a strategic Bitcoin reserve bill on May 6. “The odds of multiple states passing similar laws just went up massively,” said Satoshi Action Fund CEO Dennis Porter.

Further optimism stems from upcoming U.S.-China trade talks, set for this weekend in Switzerland. Treasury Secretary Scott Bessent stated on X that both sides are eager to discuss reducing tariffs and trade barriers in the interest of “fair trade.”

More ETFs on the Horizon

Adding to the ETF buzz, BattleShares filed for four new crypto-focused ETFs on May 6, including a product that goes long Bitcoin and short Ether. Balchunas humorously suggested the ticker should be “MAXI.”