BlackRock’s Bitcoin ETF IBIT Surpasses $1 Billion Inflows, Holds 300K BTC; Blackstone Discloses 23,094 Shares

U.S. Bitcoin exchange-traded funds (ETFs) have experienced robust inflows in May, with total net inflows surpassing $1 billion within just two days. BlackRock's iShares Bitcoin Trust (IBIT) led the inflows, drawing $667.4 million on Monday and an additional $329.2 million on Tuesday. IBIT has seen relentless demand, with only 33 outflow days since its inception 496 days ago. BlackRock’s IBIT currently holds over 300,000 bitcoins, equivalent to approximately $67 billion, following a recent purchase of nearly 5,000 bitcoins worth $530.6 million on May 21. This buying activity represents almost 11 times the daily new supply of bitcoin. Blackstone, a $1.2 trillion asset manager, disclosed a position of 23,094 shares in IBIT as of March 31, marking its first publicly reported bitcoin-related investment. Blackstone’s Alternative Multi-Strategy Fund reported owning these shares in a recent portfolio filing. The surge in Bitcoin ETF inflows coincides with bitcoin reaching all-time highs above $110,000, driven by growing institutional interest and inflows totaling over $6.4 billion in the past month. Ethereum ETFs have seen minimal inflows by comparison, with only $0.6 million reported recently. Market participants note aggressive call option buying on IBIT, signaling expectations of further price appreciation, potentially fueled by upcoming bitcoin-related events such as conferences or strategic announcements.

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