BlackRock’s Dominance in Bitcoin ETFs Drives Market to New Highs

• Spot Bitcoin ETF recorded $306 million in net inflow on Tuesday, May 21.
• BlackRock’s IBIT accounted for $290 million of the total Bitcoin ETF inflow of May 21.
• BTC surged 17% amid seven days of consecutive net ETF inflows.

The spot Bitcoin ETF market continued its strong performance with $306 million net inflow on Tuesday, May 21. With this milestone, the spot Bitcoin ETF achieved a consecutive net Outflow for seven days and a day when Grayscale’s GBTC recorded a $0.00 net inflow.

On May 21, the total net inflow of Bitcoin spot ETF was US$306 million, marking seven consecutive days of net inflow. Grayscale ETF GBTC had a single-day net outflow of $0.00, BlackRock ETF IBIT had a single-day inflow of $290 million, and the total net asset value of the Bitcoin… pic.twitter.com/LD66xA9sB4

— Wu Blockchain (@WuBlockchain) May 22, 2024

Meanwhile, the BlackRock IBIT maintained its impressive performance by ranking as the highest in net inflow. IBIT’s net inflow for Tuesday was $290 million, representing about 95% of the total daily net inflow in the spot Bitcoin ETF market.

Tuesday’s influx of investment into spot Bitcoin ETFs boosted the total net as…

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