{"id":128186,"date":"2025-04-29T10:20:53","date_gmt":"2025-04-29T10:20:53","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128186"},"modified":"2025-04-29T10:20:53","modified_gmt":"2025-04-29T10:20:53","slug":"blackrock-bitcoin-etf-buys-970m-in-btc-as-inflows-surge-boost-market","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128186","title":{"rendered":"BlackRock Bitcoin ETF buys $970M in BTC as inflows surge, boost market"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBlackRock\u2019s exchange-traded fund (ETF) bought nearly $1 billion worth of Bitcoin on behalf of its clients on April 28, with continued inflows providing \u201cstructural support\u201d for Bitcoin\u2019s price appreciation, according to market analysts.<br \/>\nBlackRock\u2019s iShares Bitcoin Trust (IBIT) ETF bought $970 million worth of Bitcoin (BTC) on April 28, its second-largest day of inflows on record after scooping up $1.12 billion of BTC on Nov. 7, 2024, Sosovalue data shows.<br \/>\nIBIT ETF Inflows, all-time chart. Source: Sosovalue\u00a0IBIT\u2019s near $1 billion investment brought total net inflows to US spot BTC ETFs to just above $590 million, with all other ETFs realizing net negative outflows or remaining flat. ARK Invest\u2019s ARKB ETF recorded the highest outflows of $226 million.<br \/>\nRelated: Bitcoin treasury firms driving $200T hyperbitcoinization \u2014 Adam Back<br \/>\n\u201cNearly *$1bil* into iShares Bitcoin ETF today.. 2nd largest inflow since Jan 2024 inception. I still remember when there was \u201cno demand,\u201d Nate Geraci, the president of ETF Store advisory firm, wrote in an April 29 X post.<br \/>\nBlackRock\u2019s IBIT is the largest spot BTC ETF, with over $54 billion in assets under management, accounting for 51% of the total spot BTC ETF market share, Dune data shows.<br \/>\nBitcoin ETFs by market share. Source: DuneThe latest inflows make IBIT the world\u2019s 33rd-largest ETF among crypto and traditional finance-based ETFs, according to data from ETF Database.<br \/>\nLast week\u2019s \u201cETF inflows and croproate buying\u201d have been significant for Bitcoin\u2019s recovery above $94,000, as retail investor interest continued to lag, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.<br \/>\nRelated: Bitcoin\u2019s role as a reserve asset gains traction in US as states adopt<br \/>\nETFs provide \u201cstructural\u201d support for Bitcoin rally<br \/>\nBitcoin\u2019s recovery over the past week was aided by over $3 billion worth of cumulative net inflows for the US spot Bitcoin ETFs, marking their second-highest week of investments since launch.<br \/>\nThe Bitcoin price posted its \u201cstrongest weekly gain since Trump\u2019s election victory, but signs suggest another move could be brewing,\u201d according to Nexo dispatch analyst Iliya Kalchev.<br \/>\n\u201cETF inflows into spot Bitcoin products topped $3 billion last week \u2014 the highest since November \u2014 providing structural support that could fuel further upside,\u201d the analyst told Cointelegraph.<br \/>\nBitcoin investments have previously been a significant driver of Bitcoin\u2019s upside momentum. Bitcoin ETFs accounted for an estimated 75% of new investment into Bitcoin when it recaptured the $50,000 mark in February 2024, a month after the debut of the US spot Bitcoin ETFs.<br \/>\nMagazine: Altcoin season to hit in Q2? Mantra\u2019s plan to win trust: Hodler\u2019s Digest, April 13 \u2013 19<a href=\"https:\/\/cointelegraph.com\/news\/blackrock-ibit-etf-second-largest-inflow-970-m?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBlackRock\u2019s exchange-traded fund (ETF) bought nearly $1 billion worth of Bitcoin on behalf of its clients on April 28, with continued inflows providing \u201cstructural support\u201d for Bitcoin\u2019s price&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128186"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128186"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128186\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128186"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}