BlackRock’s Bitcoin ETF Gobbles $4B in Two Weeks—33 Straight Days of Institutional Hunger

Wall Street’s latest golden goose keeps laying crypto eggs. BlackRock’s Bitcoin ETF just racked up its 33rd consecutive day of inflows—$4 billion in the past fortnight alone. Guess even the suits finally figured out ’number go up’ beats their 2% bond yields.

The institutional stampede continues as the ETF becomes the shiny new toy in every portfolio manager’s sandbox. Who needs fundamentals when you’ve got FOMO and a ticker symbol?

Meanwhile, Bitcoin maximalists smirk while traditional finance plays catch-up—the ultimate ’told you so’ moment for crypto’s true believers. The revolution will be tokenized... and heavily fee’d.

Institutional Bitcoin Consumption

IBIT is comfortably in the top 5 ETFs by inflows this year out of more than 4,200 funds, observed Geraci. Additionally, IBIT has seen $3.86 billion in inflows over the past fortnight, with a daily average of $430 million.

In total, the fund has seen $48.8 billion in inflows since it launched in January 2024. It holds $71 billion in assets under management, which is equivalent to around 650,000 BTC.

BlackRock was the only Bitcoin ETF to see an inflow on Wednesday, with Fidelity and Ark 21Shares outflowing $14 million and $34.3 million, respectively, according to Farside Investors.

IBIT has been on fire lately, now has $72 billion in assets, which ranks it 23rd overall, “absolutely bonkers for a one-year-old,” said Bloomberg ETF analyst Eric Balchunas.

The big BlackRock figures emphasize the sentiment that this rally is institutionally driven, as large corporations are also adding Bitcoin to their balance sheets, the latest being GameStop, and retail appears to be absent.

Balchunas opined that it feels like it’s inevitable that a “Big Boy US company” adds Bitcoin to its balance sheet soon. “Could definitely see Meta being the one to break the ice,” he added.

“If a Meta or Microsoft adds BTC to its balance sheet, it will arguably have a bigger impact than all the smaller companies doing it, kinda like when Tom Hanks got COVID, everyone was like ‘oh shit Tom Hanks got it’   which made it feel real even tho the cases had already been mounting.”

Crypto Market Outlook

Spot markets have dipped 2% on the day, with total capitalization falling to $3.55 trillion.

The fall has been led by Bitcoin, which failed to reclaim $108,000 during the Thursday morning Asian trading session and dipped 1% on the day.

Ethereum was moving in the opposite direction, adding 4% on the day to top $2,750 at the time of writing, while most of the altcoins were flat.