BlackRock’s iShares Bitcoin Trust (IBIT) recorded a major single-day inflow of $530.6 million on May 21—its largest since early May—underscoring growing institutional interest in Bitcoin as the asset edges closer to a new all-time high.
According to data from SosoValue Data, the fund’s inflow was just below its May 5 record of $531.2 million. Trading volume also surged, making it IBIT’s most active day since January, when Bitcoin previously topped the charts.
In just 24 hours, IBIT accumulated 4,931 BTC—more than ten times the 450 BTC mined globally each day. This aggressive pace highlights how regulated financial products are soaking up circulating supply and driving bullish price momentum.
ETF Store president Nate Geraci weighed in on the spike, saying the volume suggests institutional demand is far from slowing.
“Given trading volume today, expect these inflow numbers to increase,” he noted.
As Bitcoin hovers just below $112,000, IBIT’s performance signals rising confidence in ETFs as a secure on-ramp to crypto exposure.
U.S. Bitcoin ETFs Add $607M in Daily Inflows
Total net inflows across all 11 U.S.-listed spot Bitcoin ETFs reached $607.1 million on May 21. Fidelity’s Wise Origin Bitcoin Fund (FBTC) came in second with $23.5 million, while other ETFs saw elevated trading and accumulation activity.
Bloomberg ETF analyst Eric Balchunas described the market mood as a “classic feeding frenzy,” with both flows and volumes nearing highs last seen during Bitcoin’s January rally.
“All the Bitcoin ETFs are elevated, most are gonna see 2x their average flows incoming” Balchunas said.
The data paints a picture of strong investor conviction, with ETF-based vehicles increasingly seen as lower-risk ways to enter the crypto space—particularly during major price surges.
Analysts Expect ETF Inflows to Keep Rising
Bitcoin ETF net inflows for May have already reached $3.6 billion, and analysts expect that number to grow further. The prospect of U.S. interest rate cuts is fueling investor optimism around risk-on assets like Bitcoin.
Jeff Mei, COO at BTSE, pointed to growing institutional allocations.
“If the Federal Reserve signals rate cuts in the near future, this inflow trend could pick up even more steam,” he told Cointelegraph.
Bitcoin’s breakout past $110,000—peaking at $111,897 on Coinbase—has reignited bullish sentiment, though some warn the market is now in a precarious price discovery phase.
Jupiter Zheng of HashKey Capital emphasized the need for caution amid ongoing geopolitical and macroeconomic uncertainties.
“Bitcoin’s move above $110,000 is entering price discovery,” he said.
Quick Facts
- BlackRock’s IBIT saw $530.6M in inflows on May 21—its largest in over two weeks.
- Bitcoin ETF inflows across all funds hit $607.1M on the same day.
- IBIT alone added 4,931 BTC—more than 10x the daily mined supply.
- May ETF inflows now total $3.6B, with analysts expecting continued growth.
