BlackRock’s IBIT topped all US-based exchange-traded funds (ETFs) in inflows on May 22 following Bitcoin’s rally to a new all-time high above $110,000.
On May 23, Bloomberg ETF analyst Eric Balchunas reported that IBIT attracted $877.18 million in inflows that day, outpacing traditional heavyweights like Vanguard’s VOO, which tracks the S&P 500. VOO, typically a market leader, only saw $558 million in inflows, placing fifth on the day.
Before this milestone, Balchunas had observed that IBIT posted its “second biggest volume day ever” on May 21.
He noted that this trend was also observed in other Bitcoin ETF products, which had seen above-average volume thanks to the growing institutional interest in BTC, with investors piling into crypto-related funds during the price surge.
Balchunas said:
“All the BTC ETFs are elevated, most gonna see 2x their [daily] average. Flows incoming.”
The cumulative impact of these gains has been substantial. Lifetime net inflows into all Bitcoin ETFs have now surpassed $44.5 billion, which illustrates the growing demand for regulated crypto investment vehicles.
BlackRock’s IBIT has been a standout performer among these products, adding approximately $8 billion over the last five weeks alone.
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