BlackRock's spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has posted gains on almost every trading day over the past three weeks. Bloomberg ETF analyst Eric said in a social media post that the fund has been exceptionally strong, with a 19% cumulative gain since the "Iran strike" and a fresh 3.5% jump in a single session.
The move came as spot Bitcoin pushed above $78,000, according to the source material, adding momentum to buying in Bitcoin ETF products on Wall Street. Eric linked the recent strength to improving market expectations around the Middle East, including a ceasefire in Lebanon and the easing of the Strait of Hormuz crisis, which helped support risk appetite and ETF demand.
IBIT nearly rose every day for three weeks
Eric's main point was the consistency of the move. He said IBIT climbed on nearly every trading day during the last three weeks, a pattern that stood out in recent Bitcoin ETF trading. As Bitcoin itself moved higher, listed products tied to the asset also attracted stronger buying from traditional financial markets.
Using the Iran conflict event as the reference point, Eric calculated that IBIT has now advanced 19%. That figure was central to his description of the fund's recent momentum.
Market focus shifts away from the morning sell-off pattern
Eric also highlighted a change in trading behavior. In his words, the rally has "ended, or at least the market thinks it has ended," the recurring "morning dump" that traders had often seen at the open. That suggests expectations for early-session selling pressure have eased, at least for now, in IBIT and the broader Bitcoin ETF trade.
Based on the source material, IBIT's rally was not just a one-day spike. It reflected a mix of Bitcoin's breakout, calmer geopolitical expectations, and stronger ETF buying. Eric's takeaway was straightforward: IBIT has risen almost every day for three weeks, gained 19% since the Iran strike, and shaken off the old morning-dump pattern for the time being.