BlackRock’s Bitcoin Trust Drives Market Momentum in US ETFs

The US spot Bitcoin ETF market is experiencing explosive growth, largely driven by BlackRock’s iShares Bitcoin Trust (IBIT). In just ten days, IBIT saw a staggering $4.26 billion inflow, pushing its assets under management to an impressive $72 billion. This influx of capital has also led to record-breaking trading volumes for Bitcoin ETFs. As Bitcoin prices surged past $112,000 last week, US spot Bitcoin ETFs witnessed a transaction volume exceeding $25 billion, with IBIT playing a major role in driving nearly 80% of that activity on May 28th. This trend suggests a significant shift in the approach of institutional investors to cryptocurrencies.