The BlackRock iShares Bitcoin (BTC) Trust ETF (IBIT) recently reported inflows of $970.9 million, marking its second-largest net inflow since its launch in January 2024, according to Farside data.

On Monday alone, the ETF attracted $591.2 million in new capital, coinciding with significant capital outflows from competitors. Fidelity’s FBTC experienced a loss of $86.9 million, while Bitwise’s BITB declined by $21.1 million, and ARK’s ARKB faced outflows of $226.3 million.

Key Points:

• The IBIT ETF’s inflow is accompanied by a 7.2% rise in Bitcoin over the last week, currently trading at $94,900.
• Since April 22, the ETF has gathered over $4.5 billion in net inflows, defying current market trends.
• The decreasing interest in CME Bitcoin Futures has influenced trading patterns, with open interest dropping to 132,750 BTC after a consistent decline.

Experts in the industry are observing this trend closely. Nate Geraci, President of The ETF Store, commented:

“Nearly $1 billion into the iShares Bitcoin ETF today… Second-largest inflow since January 2024 inception. I still remember when there was ’no demand’.”
Translation: Nearly $1 billion into the iShares Bitcoin ETF today… The second-largest inflow since its launch in January 2024. I remember when there was ’no demand’.

Eric Balchunas, a Senior Analyst at Bloomberg, stated:

“ETFs are in two-steps-forward mode after taking one step back, exactly the pattern we predicted.”
Translation: ETFs are in a pattern of progressing forward after a minor setback, just as we anticipated.

This recent shift in inflows suggests a potential revival in trading activities, especially as yields on Bitcoin futures begin to stabilize.