BlackRock Bitcoin ETF IBIT Tops $1B Inflows: Market Impact & Investor Insights

The BlackRock Bitcoin ETF has achieved a significant milestone by attracting nearly $1 billion in inflows within a single day, coinciding with a bullish trend in Bitcoin's price, which is approaching $95,000.

Recent data from the tracker Sosovalue shows that while IBIT experienced substantial inflows, other U.S.-based spot Bitcoin ETFs faced outflows during the same period.

Additionally, the leading cryptocurrency's value has risen by 7.5% over the past week.

BlackRock $BTC ETF Takes Charge With Nearly $1B Inflows; Details

Data from SosoValue on April 29 indicated that the BlackRock Bitcoin ETF experienced inflows totaling $970.93 million in the previous day.

This figure highlights the increasing interest from traditional markets in the leading cryptocurrency amidst a generally optimistic market environment.

In contrast, U.S. spot $BTC ETFs collectively recorded inflows of only $591.29 million on April 28.

Besides IBIT, other offerings such as Fidelity, GrayScale, and VanEck either faced outflows or reported no inflows at all.

The relatively weak performance of these products, when compared to IBIT, emphasizes the significant position of the asset manager within the institutional sector.

During this period, Fidelity’s FBTC saw outflows amounting to $86.87 million, while Grayscale’s GBTC experienced outflows of $42.66 million.

Conversely, Valkyrie’s BRRR and Invesco’s BTCO achieved net inflows of $0, and Franklin Templeton’s EZBC also reported no net flows as of April 28, remaining overshadowed by BlackRock’s Bitcoin ETF.

$BTC Price Holds Above $94K

Today, the price of Bitcoin has increased its weekly gains to over 7%, closing at $94,974.

This leading cryptocurrency reflects a bullish trend driven by growing institutional interest.

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