BlackRock’s ETF Inflows Exceed $43 Billion as Bitcoin Price Surpasses $97,000
Investor optimism in Bitcoin has led to significant attention on related investment products. Key highlights include:
- US spot BTC exchange-traded funds (ETFs) saw a net inflow of $422.5 million on May 1, with trading volume at $3.52 billion.
- Cumulative net inflows for spot BTC ETFs reached $39.56 billion, the highest since February 21.
- BlackRock’s IBIT ETF accounted for over $3.4 billion in inflows from April 14 to May 1, surpassing total inflows of $43 billion.
- Bitcoin whales accumulated over 43,000 BTC between April 13 and 27, supporting price growth from $75,000 to $97,000.
- On May 1, Bitcoin hit a local high of $97,437, resulting in $88 million in liquidations ($9 million longs, $79 million shorts).
- Total crypto open interest increased by 5.2% to $123.8 billion, indicating growing trader interest in the digital asset class.
- Recent developments in Bitcoin's DeFi sector, particularly from the Sui network, may further stimulate growth.