BlackRock’s Bitcoin ETF Cash Cow Stumbles—$96M Flees as IBIT’s 20-Day Streak Dies

Wall Street’s golden goose finally laid a rotten egg. BlackRock’s IBIT—the unstoppable force sucking up Bitcoin like a institutional vacuum cleaner—just saw its 20-day inflow streak snap with $96 million fleeing Bitcoin ETFs in a single day.

Market jitters or smart money cashing out? Either way, the ’hold-and-hodl’ ETF narrative just got a reality check. Turns out even BlackRock can’t defy gravity when traders smell blood in the water.

Bonus cynicism: Nothing brings out the fair-weather ’long-term investors’ like a 5% price dip. Welcome to crypto, folks—where diamond hands are just paper hands moving in slow motion.

IBIT inflow streak

The halt in IBIT flows ends one of its most notable runs since launch. Although the current streak didn’t surpass its 2024’s 104 consecutive days of inflows, it reflects the continued institutional appetite for Bitcoin exposure.

IBIT’s performance over the past month included several standout days. On April 28, it attracted $970 million in a single day, its second-highest daily inflow since launching in January 2024. The fund also brought in $674 million on May 2, $643 million on April 23, and $531 million in new capital on May 5.

In total, IBIT added more than $5 billion during the 20-day streak. Year-to-date, its inflows exceed $7 billion, helping it outperform traditional funds like SPDR Gold Shares (GLD), which brought in around $6.5 billion in the same period.

IBIT remains the dominant spot Bitcoin ETF by net assets. It currently manages more than $65 billion in assets and controls more than 3% of BTC’s circulating supply.