Bitcoin ETF Boom: BlackRock’s IBIT on 16-Day Winning Streak as BTC Surges #CriptoNews

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• BlackRock’s iShares Bitcoin Trust (IBIT) has seen 16 consecutive days of inflows
• IBIT has accumulated around $4.7 billion since April 9
• It’s the only US spot BTC ETF to post inflows this week
• Bitcoin briefly topped $97,500 on May 7
• New Hampshire became the first US state to pass strategic Bitcoin reserve legislation

BlackRock’s iShares Bitcoin Trust (IBIT) has been on a record-breaking streak, with investors pouring money into the fund for 16 consecutive days. This steady influx has helped push Bitcoin’s price to nearly $97,000 on May 7, 2025.

The largest US Bitcoin ETF added another 280 Bitcoin (worth approximately $36 million) on May 6 alone, according to data from HODL15Capital. This continues an impressive run that has seen no outflows since April 9.

ETF Store President Nate Geraci highlighted this achievement on social media platform X, noting that the fund is approaching $5 billion in new capital. “I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” Geraci wrote. “IBIT alone has done this in a few weeks, more than a year after launch.”

*16* day inflow streak for iShares Bitcoin ETF…

Approaching $5bil in new $$$.

I remember when naysayers didn’t think spot bitcoin ETFs would take in $5bil *total* last yr.

As in *all* spot bitcoin ETFs.

IBIT alone has done this in a few weeks more than a yr after launch.

– Nate Geraci (@nateraci) May 7, 2025

The total inflow to BlackRock’s fund has reached around $4.7 billion during this period. This performance stands in stark contrast to other spot Bitcoin ETFs in the US market.

IBIT is currently the only US spot Bitcoin ETF showing positive flows this week. All other similar funds have experienced outflows or zero movement since May 1, according to data from Farside Investors.

Market Dominance Growing

The most recent trading day on May 6 actually saw an aggregate outflow of $86.4 million across all Bitcoin ETFs. This was primarily due to Grayscale’s GBTC fund, which shed almost $90 million, effectively canceling out the gains from BlackRock’s product.

Bloomberg ETF analyst Eric Balchunas views these developments as positive for the long-term outlook. He commented that it “inspires confidence in our call that BTC ETFs will have triple gold’s [ETF’s] AUM [assets under management] in 3 to 5 years.”

In related ETF news, BattleShares filed for four new ETFs on May 6. These innovative funds aim to pit Bitcoin against Ethereum and gold using various combinations of long and short positions.

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One of these proposed ETFs would take a long position on Bitcoin while shorting Ethereum. Commenting on this product, Balchunas suggested “The ticker should be MAXI,” a reference to “Bitcoin maximalists” who favor Bitcoin over other cryptocurrencies.

Bitcoin prices have returned to resistance levels, briefly exceeding $97,500 during early trading on May 7. The asset reached similar levels as on May 2 but couldn’t maintain the momentum, falling back to $96,538 at the time of reporting, according to CoinGecko data.

The daily gain of 2.2% may have been influenced by New Hampshire’s recent legislative move. On May 6, New Hampshire became the first US state to pass strategic Bitcoin reserve legislation.

This development prompted Satoshi Action Fund co-founder and CEO Dennis Porter to comment: “The odds of multiple states passing Strategic Bitcoin Reserve legislation into law just went up by a massive amount today.”

Market sentiment may have received an additional boost from reports about upcoming US-China trade talks. According to the Washington Post, the two nations plan to hold high-level discussions in Switzerland this weekend.

Treasury Secretary Scott Bessent confirmed this on X, writing: “We will meet on Saturday and Sunday to discuss our shared interests. The current tariffs and trade barriers are unsustainable, but we don’t want to decouple. What we want is fair trade.”