Bitcoin ETFs Surge as Investors Flock to iShares Trust, Reaching New All-Time High

Investor interest in BlackRock’s Bitcoin ETF (IBIT) has continued its upward trajectory. Over the past 16 days, inflows into IBIT have consistently topped $1 billion. This growth puts IBIT on track to reach a staggering $5 billion in assets within just a few weeks of launch. The latest bullish momentum coincides with Bitcoin’s brief surge to $97,500 on May 7, marking a return to key resistance levels last witnessed on May 2. This surge has defied skepticism surrounding the long-term viability of spot Bitcoin ETFs.