BlackRock’s iShares Bitcoin Trust (IBIT) ETF experienced a substantial inflow of $970 million on April 28, marking its second-largest single-day inflow since its inception in January 2024. This significant investment underscores the growing institutional interest in Bitcoin and its associated financial products.
The influx of capital into IBIT contributed to a total net inflow of over $590 million across U.S. spot Bitcoin ETFs on the same day. While IBIT attracted substantial investment, other ETFs saw net outflows or remained flat, with ARK Invest’s ARKB ETF experiencing the highest outflow of $226 million.
Currently, IBIT holds over $54 billion in assets under management, representing 51% of the total market share among U.S. spot Bitcoin ETFs. This positions IBIT as the largest spot Bitcoin ETF and the 33rd-largest ETF globally across both crypto and traditional finance sectors.
Market analysts suggest that the continued inflows into IBIT provide structural support for Bitcoin’s price appreciation. The recent surge in ETF investments coincides with Bitcoin’s price recovery, which has been bolstered by over $3 billion in cumulative net inflows into U.S. spot Bitcoin ETFs over the past week.
The growing institutional adoption of Bitcoin ETFs like IBIT indicates a maturing market and a shift towards mainstream acceptance of digital assets. As traditional financial institutions continue to engage with cryptocurrency products, the landscape of digital asset investment is poised for significant evolution.
