BlackRock Inc. has significantly increased its Bitcoin holdings, purchasing $409.7 million worth of the cryptocurrency on May 15, followed by an additional $130 million on May 16. These acquisitions were made through BlackRock’s iShares Bitcoin ETF (IBIT), which saw net inflows of $410 million and $130 million on those respective days, acquiring 3,931 BTC and 1,250 BTC respectively. The ETF now holds a total of 631,962 BTC, representing 53.6% of the market share among U.S. Bitcoin ETFs.
U.S. spot Bitcoin ETFs collectively recorded net inflows of $114.9 million on May 15 and $260.2 million on May 16, indicating strong institutional demand for Bitcoin. In contrast, spot Ethereum ETFs experienced net outflows of $39.8 million on May 15, followed by net inflows of $22.2 million on May 16. Over the first half of May, Bitcoin ETFs bought 26,700 BTC, while miners produced only 7,200 BTC during the same period.
Fidelity Investments also entered the fray, buying $70 million worth of Bitcoin and $13.8 million worth of Ethereum on May 17, signaling continued interest from major financial institutions in cryptocurrencies.
The cumulative net inflow for Bitcoin ETFs since their inception in January 2024 has reached $41.489 billion, setting a new record high. This surge in investment reflects a growing acceptance of Bitcoin as a legitimate asset class among traditional investors. Since early April, these ETFs have attracted over $5.61 billion, with $2.97 billion in April and an additional $2.64 billion so far in May. Bitcoin last changed hands at $102,700.
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