BlackRock Bitcoin ETF Accumulates 56,793 Bitcoins in May
In May, BlackRock's Bitcoin ETF (IBIT) recorded significant inflows of 56,798 Bitcoins, totaling $5.95 billion, marking the second-highest monthly inflow. The IBIT share price increased by 12% during this period.
Key details include:
- BlackRock iShares Bitcoin Trust now holds 660,842 Bitcoins and has $69.6 billion in assets under management.
- April saw net inflows of 28,011 Bitcoins, indicating a doubling of inflows in May.
- BlackRock's IBIT experienced over $410 million in outflows after 31 consecutive days of inflows since mid-April.
- Nate Geraci noted that IBIT reached nearly $70 billion in assets within 17 months of launch.
Additionally, publicly traded companies are increasingly outpacing Bitcoin ETFs in BTC accumulation. MicroStrategy remains the largest corporate holder, but other firms like Japan's Metaplanets and Semler Scientific are expanding their Bitcoin holdings consistently.
Current market conditions show Bitcoin trading at $103,507 after peaking at $111,000, with bearish sentiment affecting ETF inflows and institutional investment interest. Without a bullish turnaround, demand for ETF products may remain low.