US Spot Bitcoin (BTC) ETFs have registered approx. $ 2.8 billion in net flow in the last five trading days, which helps run the price of Bitcoin higher from about $ 85,000 to $ 94,000. Ishares Bitcoin Trust (Ibit) has accounted for $ 1.3 billion of these influxes alone.

Michael Saylor, president of the largest listed Bitcoin holds Strategy (MSTR), said “Ibit will be the largest ETF in the world of ten years.” Saylor made the comments on Bitcoin Standard Corporation’s Investors Day.

To put this into perspective, Ibit currently has a market value of $ 54 billion and on Thursday over $ 1.5 billion in volume. In comparison, the largest ETF with market capital, Vanguard S&P 500 ETF (VOO), boasts a market value of $ 593.5 billion, more than ten times it for Ibit.

Eric Balchunas, senior ETF analyst at Bloomberg, recognized the possibility of Ibit becoming the largest ETF, although he emphasized that it would be extraordinary.

“It’s possible, especially if Ibit starts taking more cash than VOO, but it would require influx well north of $ 1 billion a day – more likely in the range $ 3 to $ 4 billion daily to win space. In short, some extraordinary things would have to happen, but it is possible,” Balchunas noted.

Meanwhile, the annual basic trade for Bitcoin ETFs, investors who are long in ETF and short CME Bitcoin futures have risen to almost 10%, up from 5% in early April. This increase combined with a 2,000 BTC increase in Futures’s open interest over the past week suggests that part of the Netf -Tf flow may not be purely directional betting, but part of the basic trade.