BlackRock’s Bitcoin ETF Sees $530M Inflow Amid BTC Rally

BlackRock’s Bitcoin ETF Sees Biggest Inflow in Weeks as BTC Nears $112K

BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest single-day net inflow in over two weeks, taking in $530.6 million on May 21, as investors continue piling into U.S. spot Bitcoin exchange-traded funds amid surging prices.

This marked IBIT’s biggest daily inflow since May 5 and came as Bitcoin approached a new all-time high near $112,000. The ETF has now remained net positive since April 9 without any outflows.

On May 21 alone, IBIT added 4,931 BTC to its holdings—more than ten times the amount of Bitcoin mined that day (approximately 450 BTC). This aggressive accumulation came alongside a major surge in trading volume, which spiked to its highest level since January.

ETF Store president Nate Geraci noted that trading volumes suggest these inflows could rise even further in the coming days. Meanwhile, Bloomberg ETF analyst Eric Balchunas described the rush into Bitcoin ETFs as a “classic feeding frenzy” driven by Bitcoin’s latest breakout. He noted that many ETFs were tracking double their average flows.

BlackRock IBIT net flows. Source: Trader T

Across all 11 U.S.-listed spot Bitcoin ETFs, total net inflows for the day reached $607.1 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed BlackRock with $23.5 million in net inflows.

As of early May 22, Bitcoin touched a new high of $111,897 on Coinbase, according to TradingView. The rally has pushed ETF activity to levels not seen since January, when Bitcoin set a previous peak that it held for months.

Jeff Mei, chief operating officer at crypto exchange BTSE, said institutional and retail investors are continuing to “crowd into Bitcoin ETFs,” which have already attracted $3.6 billion in net inflows in May alone. He added that this momentum could accelerate if the Federal Reserve moves to cut interest rates later this year.

IBIT trading volume surges to January levels. Source: Eric Balchunas 

HashKey Capital partner Jupiter Zheng echoed similar sentiments, noting that Bitcoin is entering “uncharted price discovery territory” above $110,000. He warned of heightened volatility ahead as investors weigh Bitcoin’s long-term value against ongoing geopolitical and macroeconomic uncertainty.

The convergence of massive ETF inflows, institutional interest, and macroeconomic tensions is setting the stage for what could be another landmark phase in Bitcoin’s market evolution.