BlackRock’s IBIT Sees $970M Bitcoin Purchase Amid Surge in ETF Inflows

BlackRock’s iShares Bitcoin Trust (IBIT) acquired approximately $970 million in Bitcoin on April 28th, representing its second-largest single-day inflow since the fund’s inception.

Data from Sosovalue indicates the purchase was second only to IBIT’s $1.12 billion inflow on November 7th, 2024. The acquisition occurred during a day in which total net inflows into U.S. spot Bitcoin ETFs surpassed $590 million. 

Other funds recorded either minimal changes or net outflows, with ARK Invest’s ARKB ETF seeing the largest withdrawal at $226 million.

“Nearly *$1bil* into iShares Bitcoin ETF today… 2nd largest inflow since Jan 2024 inception. I still remember when there was ‘no demand,’” wrote Nate Geraci, president of the ETF Store.

IBIT currently manages over $54 billion in assets and represents 51% of the total U.S. spot Bitcoin ETF market, according to data from Dune. 

ETF Database ranks IBIT as the 33rd-largest ETF globally across both traditional and Bitcoin-focused offerings.

Recent inflows into U.S. spot Bitcoin ETFs totaled more than $3 billion over the past week, which ranks as the second-highest weekly total since these products became available.

In February 2024, when Bitcoin regained the $50,000 level, ETFs were estimated to have contributed roughly 75% of the new capital entering the market.