Bitcoin ETFs Attract $9B in Five Weeks, Gold Funds Lose $2.8B; BlackRock's IBIT Hits $72B AUM

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have attracted more than $9 billion in net inflows over the past five weeks, while gold funds experienced outflows exceeding $2.8 billion, according to Bloomberg. May alone saw $3.294 billion in Bitcoin ETF net flows, with $3.3 billion in crypto investment product inflows last week.

BlackRock's iShares Bitcoin Trust (IBIT) led the inflows, accounting for over $4 billion in the past ten days and now managing $72 billion in assets, ranking 23rd among all ETFs. IBIT recorded $1.6 billion in daily trading volume and has had inflows on 29 of the past 30 days, with 32 consecutive days of no outflows and $9.5 billion in new inflows this month.

Institutional interest in Ethereum ETFs has also grown. BlackRock, Fidelity, Grayscale, and VanEck collectively purchased approximately $85 million worth of Ethereum in a single day, with BlackRock acquiring $52.7 million and Fidelity $25.7 million. ETH ETFs saw $273.3 million in inflows over the past five sessions, $346 million over ten sessions, and $293 million in the past week, with seven consecutive days of inflows.

BlackRock has publicly recommended a 1–2% portfolio allocation to Bitcoin, citing its higher upside potential compared to gold and its effectiveness as a hedge against financial system risks. Robert Mitchnick, BlackRock's Head of Digital Assets, stated that Bitcoin has much higher upside and lower downside than gold.

Bitcoin's spot price recently reached record highs above $110,000. The net inflow into Bitcoin ETFs in May alone reached $5.77 billion, the best monthly performance since November. MicroStrategy added 4,020 BTC, bringing its total holdings to 580,250 BTC.

Market analysts highlight that Bitcoin's correlation to traditional assets such as gold and equities has declined, and the shift from gold to Bitcoin among institutional investors is attributed to concerns about U.S. fiscal stability and the perceived advantages of Bitcoin's decentralized nature.

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