Bitcoin ETF Flows Surge, Reaching Record Highs with BlackRock IBIT

Investment in Bitcoin has hit a new milestone, surpassing $4.7 billion since April 9. Investors are flocking to BlackRock’s IBIT, a spot Bitcoin ETF, for the past three weeks, driven by rising institutional interest. This influx has been a driving force behind the cryptocurrency’s recent surge towards record highs of over $97,500 on May 7th before retracting slightly. This bullish trend is highlighted by the fund’s 16 consecutive days of inflows, according to data from HODL15Capital.