BlackRock’s iShares Bitcoin Trust (IBIT) is seeing record-breaking momentum, drawing $481 million in inflows on May 28 alone—its 33rd straight trading day without any outflows. Since its launch in January, the fund has attracted $48.8 billion and now manages $71 billion in assets, equivalent to approximately 650,000 BTC.
IBIT ranks among the top five ETFs for inflows in 2024 and stands out as the only Bitcoin ETF with positive inflows on May 29, while competitors like Fidelity and Ark 21Shares saw outflows.
Experts say the surge reflects strong institutional demand, with speculation growing that a major tech company, such as Meta or Microsoft, could soon add Bitcoin to its balance sheet—an event analysts believe could have a significant psychological impact on the market.
Despite IBIT’s success, the broader crypto market dipped slightly. Bitcoin fell 1%, the total market cap dropped to $3.55 trillion, while Ethereum gained 4% to surpass $2,750. Most altcoins remained flat.
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