Thomas Daniels
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a substantial $970 million in inflows on April 28, marking the second-largest single-day capital injection since its inception. This inflow underscores the accelerating institutional interest in Bitcoin exposure via regulated exchange-traded products.
The IBIT ETF’s purchase contributed significantly to the $591 million in net inflows across all U.S. spot Bitcoin ETFs on the same day. Notably, while BlackRock’s fund absorbed nearly $1 billion in Bitcoin, other funds, including ARK Invest’s ARKB, experienced net outflows—ARKB alone saw redemptions of $226 million.
BlackRock’s IBIT now holds more than $54 billion in assets under management, accounting for approximately 51% of the entire U.S. spot Bitcoin ETF market. This dominance positions it as the 33rd-largest ETF globally among both traditional finance and cryptocurrency-focused funds.
Market analysts describe the sustained influx of capital into IBIT and similar ETFs as offering “structural support” to Bitcoin’s ongoing price rally. Over the week ending April 25, U.S. spot Bitcoin ETFs attracted over $3 billion in cumulative net inflows—the second-highest weekly tally since their launch in January 2024.
Bitcoin’s price has mirrored this institutional momentum, climbing above $94,000 to register its strongest weekly performance since the 2016 U.S. presidential election cycle. Despite muted retail activity, analysts emphasize that ETF-driven demand continues to play a pivotal role in Bitcoin’s upward trajectory.
These developments follow a broader trend observed earlier this year, when spot Bitcoin ETFs accounted for approximately 75% of new investment inflows as Bitcoin surpassed the $50,000 threshold in February.
As institutional demand deepens and ETF inflows remain robust, the case for Bitcoin as a maturing asset class continues to strengthen.
