While the Bitcoin price oscillates around $95,000, U.S. Bitcoin spot ETFs have seen net inflows for 7 consecutive days. BlackRock's IBIT welcomed a net inflow of $970 million on April 28, Eastern Time, marking the second highest single-day record since its inception. (Background: Arthur Hayes' latest interview: Bitcoin and Ethereum have bottomed out, where is the new liquidity coming from? How to select targets at this stage?) (Context: Standard Chartered Bank boldly predicts: Bitcoin's target price is $200,000 in 2025) The iShares Bitcoin Trust (IBIT) ETF under BlackRock experienced a net inflow of $970 million on April 28, Eastern Time, creating the second highest single-day record since its establishment. This not only strongly demonstrates institutional investors' sustained interest in Bitcoin (BTC) but also ignited a heated discussion in the market about whether Bitcoin spot ETFs are becoming a key force driving price increases and providing 'structural support.' The institutional capital frenzy: The astonishing capital-raising power of BlackRock's IBIT According to Sosovalue data, the previous highest single-day inflow record occurred on November 7, 2024, amounting to $1.12 billion. This nearly $1 billion inflow pushed the total net inflows of all U.S. spot Bitcoin ETFs on that day to about $590 million. Facing such strong capital momentum, Nate Geraci, president of ETF Store, commented on social media: "Today, the iShares Bitcoin ETF saw inflows of nearly $1 billion... the second largest inflow since its launch in January 2024. I remember at that time, some said there was no demand." This powerfully refuted previous arguments about a lack of institutional interest in Bitcoin. Currently, the U.S. spot Bitcoin ETF market has seen net inflows for 7 consecutive days (detailed data for the 29th has not yet been released), and market analysts generally believe that this wave of institutional capital influx is one of the key factors that allowed Bitcoin's price to quickly rebound to $95,000. Nexo analyst Iliya Kalchev explicitly pointed out that the more than $3 billion in ETF capital net inflows last week provided 'structural support that could drive further price increases.' Reshaping the market landscape: How do Bitcoin ETFs provide 'structural support'? Generally speaking, the influx of institutional capital helps enhance market maturity and stability. Compared to highly volatile retail speculative behaviors, institutional investors typically have a longer investment horizon and more robust trading strategies. In terms of ETF market scale, the IBIT, which achieved this massive inflow, is currently the largest spot Bitcoin ETF in the market, with assets under management (AUM) exceeding $56 billion, firmly maintaining its market leadership. According to Dune data, IBIT accounts for over 51% of the entire U.S. spot Bitcoin ETF market, demonstrating its tremendous advantages and market influence in attracting capital. Furthermore, according to data from ETF Database, IBIT has entered the list of the top 33 ETFs globally, with its influence already transcending the cryptocurrency realm and penetrating deep into the core of traditional financial markets. New movements at the government level In addition to the influx of institutional capital brought about by ETFs, there have also been recent new movements at the government level supporting Bitcoin. The Arizona State Legislature in the United States passed a landmark bill this Wednesday, allowing up to 10% of public funds to be used to purchase Bitcoin, integrating it into the state's reserve assets. If this bill is successfully signed by the governor, Arizona will become the first region in the United States to include Bitcoin in its official reserves. This not only signifies local government recognition of Bitcoin as a form of value storage but could also pave the way for similar legislation in other states and even at the federal level. Further reading: Major news! Arizona passes Bitcoin reserve bill: up to 10% of public funds invested in BTC, just waiting for the governor's signature Market outlook and potential risks Market analysts generally expect that with the continued stable inflow of capital into ETFs, if Bitcoin's price can successfully consolidate above $94,000-$95,000, the next significant psychological resistance level may be $100,000. However, the risks of the Trump trade war still persist, and whether Bitcoin can truly solidify its position as 'digital gold' and challenge higher price milestones remains to be seen. The market is closely watching. Related reports: A new crypto heavyweight is born! Tether, SoftBank, and Bitfinex jointly established '21 Capital' with $3 billion: all buying Bitcoin to replicate MicroStrategy's success In-depth analysis) Is Bitcoin breaking through $93,000 a starting point for reversal, or a second distribution wave of a downward escape? A year after Bitcoin halving: Why is this cycle different? Who is rewriting the Bitcoin cycle law? "BlackRock's 'IBIT' bought $970 million in BTC in a single day, creating the second highest record in history! U.S. Bitcoin ETFs have seen net inflows for 7 consecutive days." This article was first published in BlockTempo (the most influential blockchain news media).