BlackRock’s IBIT Records Nearly $1B in BTC Inflow, Second-Highest Since Launch

BlackRock’s iShares Bitcoin Trust (IBIT) purchased $970 million of Bitcoin on April 28, marking its second-largest daily inflow since launch. The only larger single-day inflow occurred on November 7, 2024, when IBIT added $1.12 billion in Bitcoin.

The nearly $1 billion purchase significantly boosted total inflows into U.S. spot Bitcoin ETFs, pushing combined net intake above $590 million. All other spot Bitcoin ETFs either remained flat or saw net outflows. Among them, ARK Invest’s ARKB ETF recorded the largest withdrawal at $226 million.

IBIT Dominance

IBIT remains the dominant player in the spot Bitcoin ETF market, managing over $54 billion in assets. According to Dune data, it currently commands a 51% market share. Its size also makes it the 33rd-largest ETF globally among traditional and crypto-focused funds.

Remarkably, these inflows arrived at a critical moment for digital asset markets, which have recently stabilized following volatility driven by global trade disputes. The renewed momentum points to growing confidence in spot Bitcoin ETFs and reflects a broader market recovery.

Over the past week, the Bitcoin ETF sector recorded net inflows of over $3.7 billion, suggesting that institutional players are reassessing crypto ETFs as a meaningful addition to their portfolios. BlackRock’s dominant showing reinforces this narrative, signaling possible continued interest in the space.

Commenting on the inflow momentum, Nate Geraci, president of the ETF Store, wrote in an X post:

“Nearly *$1bil* into iShares Bitcoin ETF today.. 2nd largest inflow since Jan 2024 inception. I still remember when there was “no demand.’”

Echoing the sentiment, Bloomberg’s senior ETF analyst Eric Balchunas remarked:

“ETFs are in two steps fwd mode after taking one step back, which is the pattern we predicted from the get-go.”

Ethereum ETFs Gaining Momentum

While IBIT continues to dominate headlines, Ethereum ETFs are also gaining new interest. BlackRock’s Ethereum fund (ETHA) saw $162 million in inflows over three days, suggesting early signs of a turnaround.

On April 28 alone, ETHA pulled in $67.5 million, its strongest single-day inflow since February 4. Though smaller in scale compared to IBIT, the activity indicates a growing appetite for diversified crypto ETF exposure.

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