BlackRock ETF buys $1 billion in Bitcoin
BlackRock’s IBIT adds $970M in Bitcoin, 2nd-largest inflow since launch.
BlackRock’s iShares Bitcoin Trust (IBIT) ETF purchased $970 million worth of Bitcoin on April 28, marking the second-largest single-day inflow for the fund since its launch in January 2024.
The move has intensified institutional momentum behind Bitcoin’s recent rally, pushing its price near $95,000, reports Cointelegraph.
According to data from Sosovalue, this brings IBIT’s total assets under management to over $54 billion, capturing 51% of the total U.S. spot Bitcoin ETF market. The day’s net inflows to all U.S. spot Bitcoin ETFs reached $590 million, with IBIT the only fund posting positive inflows — while ARK Invest’s ARKB saw outflows of $226 million.
ETF Store president Nate Geraci noted the scale of demand in an April 29 X post, writing: “Nearly $1bil into iShares Bitcoin ETF today… 2nd largest inflow since Jan 2024 inception. I still remember when there was ‘no demand.’”
ETFs provide structural support for Bitcoin’s price rally
The latest inflows follow a strong week for U.S. spot Bitcoin ETFs, which saw over $3 billion in net inflows — the second-highest weekly figure since their debut. Analysts say this surge has been instrumental in lifting Bitcoin’s price from April lows, even as retail interest remains subdued.
“ETF inflows into spot Bitcoin products topped $3 billion last week — the highest since November — providing structural support that could fuel further upside,” said Iliya Kalchev, an analyst at Nexo.
Bitcoin’s recovery above $94,000 also coincides with broader institutional buying. Ryan Lee, head of research at Bitget, told Cointelegraph that corporate purchases and ETF accumulation have been key catalysts behind the rally, outweighing slower retail participation.
IBIT among world’s largest ETFs
IBIT is now the world’s 33rd-largest ETF across both crypto and traditional finance, according to ETF Database. Its recent activity underscores the dominant role of institutional investors in supporting Bitcoin’s bullish momentum.
Spot Bitcoin ETFs accounted for nearly 75% of new investment inflows when BTC crossed $50,000 in February, highlighting the instruments’ outsized influence on price trends.
With Bitcoin stabilizing near $95,000 and ETF demand accelerating, analysts expect continued upward pressure — especially as macroeconomic conditions and regulatory clarity remain favorable for institutional crypto exposure.
Recently we wrote that during Bitwise’s “Bitcoin Standard Corporations Investor Day,” Michael Saylor told an audience of corporate executives and institutional investors that BlackRock’s spot Bitcoin ETF — IBIT — could become the largest ETF in the world within the next 10 years.
