BlackRock’s Bitcoin Exchange-Traded Fund has been able to attract investors for three straight weeks, culminating with an asset that reached $97,000 on the 7th of May.
BlackRock iShares Bitcoin Trust experienced 16 consecutive days of BTC spot ETF inflows. A further 280 Bitcoins were added to the fund.BTCOn May 6, around 36 million dollars were deposited into the fund. according HODL15Capital.
Nate Geraci of ETF Store, the president who is also a shareholder in ETF Store, noted that there has been a steady increase. observed The fund’s new capital was estimated to be $5 billion.
“I remember when naysayers didn’t think spot Bitcoin ETFs would take in $5 billion in total last year,” He also added.
“IBIT alone has done this in a few weeks, more than a year after launch.”
It is important to note that the word “you” means “you”. BlackRock Since April 9, the fund has received around $4.7 billion of inflows.
All other BTC ETFs have either seen zero or negative flows in the past few weeks, including the Spot BTC ETF. according Farside Investors is a group of investors who are based in the United States.
Grayscale’s GBTC lost almost $90 millions, which was offset by BlackRock.
This is an excellent sign on the long-term. commented Bloomberg ETF Analyst Eric Balchunas added that “Inspires confidence in our call that BTC ETFs will have triple gold’s [ETF’s] AUM [assets under management] in 3 to 5 years.”
Related: US Bitcoin ETFs bought 6x more than BTC miners produced last week
BattleShares, a game related to BattleShares, has been updated. filed On May 6, four ETFs will be launched that pit Bitcoin and Ethereum against gold, with both long- and short-term positions.
“A new ETF is going to go long Bitcoin and short Ether,” commented Balchunas regarding one of the ETFs. “The ticker should be MAXI.”
The Bitcoin resistance is back
The spot Bitcoin price has returned to resistance after briefly exceeding $97.500 in early trading of May 7.
It was unable to advance any further and fell back to $96,538 as of the writing. according CoinGecko is a free online game.
New Hampshire’s becoming a state may have contributed to the 2.2% gain in daily gains. the first US state The May 6th deadline for passing a law on strategic Bitcoin reserves.
“The odds of multiple states passing Strategic Bitcoin Reserve legislation into law just went up by a massive amount today,” commented Dennis Porter, co-founder of Satoshi Action Fund and its CEO.
The reports of the United States and China We are planning high-level negotiations in Switzerland over the weekend. according Washington Post
“We will meet on Saturday and Sunday to discuss our shared interests,” Treasury Secretary Scott Bessent wrote X. “The current tariffs and trade barriers are unsustainable, but we don’t want to decouple. What we want is fair trade,” He also added.
Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest
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Source: cointelegraph.com
