Investor appetite for spot Bitcoin exchange-traded funds (ETFs) is heating up again, with BlackRock’s iShares Bitcoin Trust (IBIT) recording its strongest daily inflow in two weeks as Bitcoin’s price edges near $112,000.
On May 21, IBIT attracted $530.6 million in net inflows, its highest single-day haul since May 5, when it pulled in $531.2 million, according to data from Farside Investors. The fund hasn’t posted a single outflow since April 9, marking a strong streak of consistent interest.
In a single trading day, the fund acquired 4,931 BTC — more than ten times the 450 BTC mined that same day — reflecting aggressive accumulation amid Bitcoin’s rally.
ETF analytics account Trader T highlighted that May 21 also marked IBIT’s busiest trading day since January.
“Based on today’s trading activity, it’s likely we’ll see even higher inflows in the days ahead,” commented Nate Geraci, president of The ETF Store.
Overall, the 11 U.S.-listed spot Bitcoin ETFs collected $607.1 million in combined inflows on May 21. Fidelity’s FBTC ranked second for the day, adding $23.5 million.
Bloomberg ETF expert Eric Balchunas described the surge in demand as a “classic feeding frenzy” triggered by Bitcoin’s sharp upward move, which took it to nearly $112,000 by the early hours of May 22. He noted that ETF trading activity hadn’t reached such heights since January, when BTC was approaching a previous all-time high. “Nearly every Bitcoin ETF is seeing double their usual inflow pace,” he added.
Bitcoin set a fresh record on May 21, climbing beyond $110,000 and hitting a high of around $111,897 on Coinbase, per TradingView data.
Institutional Interest Likely to Persist
Jeff Mei, COO at crypto exchange BTSE, noted in a commentary that institutional investors are “rushing into Bitcoin ETFs,” which have already absorbed $3.6 billion in net inflows for the month of May alone.
“This influx could gain momentum if the Federal Reserve begins easing interest rates,” Mei suggested, pointing to increased investor interest as companies raise capital via public markets.
Meanwhile, Jupiter Zheng of HashKey Capital warned that a move above $110,000 could open the door to more volatility, as Bitcoin enters a phase of price discovery in the midst of broader macroeconomic uncertainty.
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