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Could Crypto be Making a Comeback?

Nearly a billion dollars poured into IBIT in a single day — a bold vote of confidence as Bitcoin steps into the safe haven spotlight.

Eric Pan
By Eric Pan · May 2, 2025
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On April 29, 2025, IBIT recorded its second-largest daily inflow ever, attracting $977 million according to ETF Central data. This pushed its total assets under management (AUM) past $58 billion as of May 2, 2025, making IBIT the 30th largest ETF by AUM.

Crypto ETF Flows

Breaking the coveted $1B daily inflow occurred only once in IBIT’s history on November 8th, 2024.

Since the 2nd largest inflow day, IBIT has risen more than 2% while BlackRock’s Gold ETF (IAU) fell -3.5% during the same period.

A few days later on April 30, 2025 the North Carolina House of Representatives passed House Bill 92, known as the "Digital Assets Investments Act." This legislation authorizes the state treasurer to allocate a certain amount of state funds into digital assets, including cryptocurrencies like Bitcoin and Ethereum through ETFs. The bill aims to diversify the state's investment portfolio.

Bitcoin has started to decouple from the market, even acting as a hedge from the overall tumultuous broader market which may be appealing for state treasurers. The S&P 500 fell -0.8% while IBIT was up over 14% for the month of April showing signs that investor sentiment suggests a shift towards viewing Bitcoin as a safe haven asset. 

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About the Author

Eric Pan has nearly a decade of experience across institutional, retail, and crypto finance, with roles at State Street, Sculptor Capital Management, Betterment, and leading digital asset custodians Anchorage Digital and BitGo. Now a finance content creator, he draws on his traditional finance roots and crypto expertise to help demystify markets, investing, and digital assets for a broader audience. A native New Yorker, Eric brings a grounded, insider perspective to the evolving world of finance.

Disclaimer

Please note that this article reflects the author's personal views and does not represent the opinions of the publication or its affiliates. It is for informational purposes only and does not constitute investment advice. It is essential to seek guidance from a registered financial professional before making any investment decisions.

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