BlackRock's iShares Bitcoin Trust, the largest US Bitcoin ETF, has experienced significant inflows totaling approximately $4.7 billion since early April. The ETF has registered 16 consecutive days of inflows, peaking with nearly $36 million added on May 6, aligning with Bitcoin's surge to $97,000 on May 7. This momentum is a marked deviation from other U.S. Bitcoin funds, which have either seen outflows or stagnant flows during the same period. In contrast, Grayscale's GBTC faced an aggregate outflow of $86.4 million recently, highlighting the robust performance of the BlackRock fund. The positive sentiment surrounding Bitcoin also saw prices briefly exceed $97,500 on May 7, supported by legislative developments favoring Bitcoin reserves in states like New Hampshire. Analyst Eric Balchunas remarked on the ETF's performance, indicating a strong indicator for future Bitcoin ETF investments alongside burgeoning legislative support for broader adoption.

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