BlackRock's Bitcoin ETF, iShares Bitcoin Trust (IBIT), has seen remarkable growth, capturing $1.3 billion of the $2.8 billion in net inflows over the past five trading days, pushing Bitcoin's price from $85,000 to $94,000. Michael Saylor, Chairman of Strategy, predicts that IBIT will become the largest ETF globally in the next decade, noting its current market capitalization of $54 billion compared to the $593.5 billion of the largest ETF, Vanguard S&P 500 ETF (VOO). A Bloomberg analyst acknowledges the potential for IBIT to surpass VOO, but emphasizes that extraordinary inflows would be necessary. The annualized basis trade for Bitcoin ETFs has increased to nearly 10%, reflecting a growing risk appetite and the potential for these inflows to not only be directional bets but also part of a trading strategy. This development highlights the increasing interest in Bitcoin and its position within the macroeconomic landscape.

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