BlackRock’s iShares Bitcoin Trust (IBIT) has experienced significant inflows, reaching $530.6 million on May 21, its largest single-day total since May 5. This surge comes as Bitcoin's price approaches $112,000, with IBIT accumulating 4,931 BTC in a single day while only 450 BTC were mined. No outflows have occurred since April 9, with the total inflow for all 11 spot Bitcoin ETFs amounting to $607.1 million. The Fidelity Wise Origin Bitcoin Fund followed with $23.5 million in inflows. Analysts suggest this surge is driven by Bitcoin’s recent price rally, likening ETF inflows to a 'feeding frenzy'. Trading volumes are now comparable to those seen during Bitcoin's peak in January, indicating robust market activity. Jeff Mei from BTSE noted that investors are flocking to Bitcoin ETFs, which saw $3.6 billion in net inflows in May. As Bitcoin enters uncharted price territory, experts are optimistic that this trend will continue, particularly if the Fed opts for interest rate cuts in the future.

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