The $100K Bitcoin Question: Will Massive ETF Inflows Push BTC to New Heights?

TLDR

Table of Contents

BlackRock’s Bitcoin ETF (IBIT) has seen 15 consecutive days of inflows, adding 5,613 BTC ($530 million) on Monday alone
US Bitcoin ETFs bought 18,644 BTC last week – nearly six times more than the 3,150 BTC produced by miners
BlackRock increased its stake in its own Bitcoin ETF by 124% in Q1 2025
Bitcoin price remains steady around $94,500, with analysts eyeing potential $100K level
Bitcoin’s MVRV ratio touching its long-term mean at 1.74 suggests market reset, setting stage for recovery

In a clear sign of growing institutional interest in cryptocurrency, BlackRock’s iShares Bitcoin Trust (IBIT) has recorded 15 consecutive days of inflows. The world’s largest asset manager scooped up 5,613 BTC worth $530 million on Monday alone.

This buying pattern is part of a larger trend. Over the past 15 days, IBIT has seen net inflows totaling $4.5 billion. Since its launch, the ETF’s total inflows have surpassed $44 billion.

BlackRock isn’t just selling Bitcoin ETFs to clients. The company has substantially increased its own stake in IBIT. During the first quarter of this year, BlackRock boosted its holdings by 124%, bringing its total investment to $314 million.

ETF Buying Outpaces Mining Production

The scale of institutional buying is putting pressure on Bitcoin’s limited supply. US-based Bitcoin ETFs collectively purchased 18,644 BTC over the past week. This amount is nearly six times the 3,150 BTC that miners produced during the same period.

Miners currently generate only 450 coins per day. With ETFs buying at this rate, the gap between new supply and institutional demand continues to widen.

The total inflow for the past five trading days was approximately $1.8 billion. There has been only one day of net outflows since April 16, according to data from Farside Investors.

BlackRock’s IBIT leads the pack. It has seen almost $2.5 billion in inflows over the past five trading days and hasn’t experienced an outflow for 17 consecutive days.

While BlackRock’s fund saw $530 million in inflows on Monday, some competitors experienced outflows. Fidelity’s FBTC, Bitwise’s BITB, and Grayscale’s GBTC all recorded net outflows on the same day.

Market Conditions Show Reset

Despite the heavy buying, Bitcoin’s price has remained relatively stable around $94,500. This stability comes after reaching a six-week high of $97,700 on May 2, followed by a retreat to current levels.

Market analysts are watching key metrics for signs of future price movement. The Bitcoin MVRV ratio has touched its long-term mean at 1.74, which some analysts interpret as a positive signal.

“The froth is gone — the reset is real. Bitcoin’s MVRV just touched its long-term mean at 1.74 — a classic sign of flushed-out unrealized gains. Hold this level? It’s a clean reset and a setup for recovery,” reported crypto analyst Kyledopps.

Bloomberg’s senior ETF strategist Eric Balchunas has noted IBIT’s rise in the ETF market. “IBIT now 8th in YTD flows (was out of Top 50 at one point) with +$6.4b. Been hoovering up btc like a madman ever since the decoupling,” Balchunas stated.

The @CanaryFunds Litecoin ETF filing is due for a decision (possibly a delay) by Monday 5/5. SEC went early & delayed a bunch of filings but not this. If any asset has a chance of early approval it's Litecoin IMO. Personally think a delay is more likely but def something to watch pic.twitter.com/FilnUcMtUH
— James Seyffart (@JSeyff) May 4, 2025

The spot Bitcoin ETFs have collectively grown into a nearly $110 billion category. This growth has occurred despite facing distribution hurdles.

Many wealth management platforms still restrict or prohibit financial advisers from recommending or providing access to Bitcoin ETFs. ETF Store president Nate Geraci pointed out, “That’s why I’ve said spot bitcoin ETFs are operating with one hand tied behind their backs. Imagine what might happen as these restrictions are lifted.”

As of today, Bitcoin trades around $94,500. The CoinGape Bitcoin price prediction indicator suggests the asset will remain near this level over the next month.

However, continued ETF inflows could provide an additional catalyst for price movement. Many analysts believe these institutional investments could help push Bitcoin beyond the $100,000 mark in the coming months.

The SEC is also considering other cryptocurrency ETFs. A decision on the Canary Capital spot Litecoin ETF filing is due by May 5. Bloomberg analyst James Seyffart believes a delay is more likely than approval at this stage.

According to Bloomberg reports from April, more than 70 US crypto ETFs are currently awaiting SEC decisions this year.

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