Emre Yumlu 
On April 28, BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), made headlines by purchasing approximately $970 million worth of BTC — marking its second-largest single-day inflow since the ETF’s launch in January 2024. The only larger day came on November 7, 2024, when IBIT absorbed $1.12 billion in BTC.
Market analysts say these sizeable institutional inflows are laying a structural foundation for Bitcoin’s long-term price strength, especially as retail investor momentum remains subdued. This single purchase by IBIT pushed total net inflows across all U.S. spot BTC ETFs above $590 million — despite several competitors seeing outflows, including ARK’s ARKB, which recorded a $226 million withdrawal.
ETF Store President Nate Geraci commented on the surge via social media, recalling early skepticism: “Back in January, people said there was no demand. Now we’re seeing almost a billion dollars flow in a day.”
With over $54 billion in assets under management, IBIT has become the largest spot Bitcoin ETF, commanding over half the market share in this segment. It now ranks as the 33rd-largest ETF globally, including both crypto and traditional finance products.
Institutional Demand Powers Bitcoin Past $94K
Bitcoin’s recent climb above the $94,000 mark has been strongly influenced by ETF activity and corporate accumulation. In just the past week, U.S. spot Bitcoin ETFs attracted more than $3 billion in net inflows, their second-biggest weekly total since launching.
Analysts suggest this surge in institutional demand is not just a short-term catalyst. Rather, it’s providing the structural momentum necessary for a more sustained price increase — reinforcing Bitcoin’s role in diversified investment portfolios.
A similar pattern was observed in February 2024, when Bitcoin rebounded past $50,000 shortly after U.S. regulators approved spot ETFs. At that time, ETFs were estimated to account for around 75% of all new Bitcoin investments. Now, the trend appears to be repeating — but on a much larger scale.
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