This article understands the net inflow of US Bitcoin spot ETFs for 8 consecutive days! BlackRock IBIT hits the second highest in history with US$970 million in a single day

The iShares Bitcoin Trust (IBIT) ETF, owned by gold giant BlackRock, ushered in a net inflow of $970 million on April 28, Eastern Time, setting the second highest single-day record since its establishment. This not only strongly demonstrates the continued interest of institutional investors in Bitcoin (BTC), but also triggers heated discussions in the market about whether Bitcoin spot ETFs are becoming a key force driving price increases and providing "structural support".

Institutional Funding Frenzy: BlackRock IBIT's Amazing Money

According to Sosovalue data, the previous highest single-day inflow record occurred on November 7, 2024, with an amount of up to US$1.12 billion. The huge inflow of nearly $1 billion this time pushed the total net inflow of all spot Bitcoin ETFs in the United States to about $590 million on that day.

Faced with such strong capital momentum, ETFStore President Nate Geraci commented on social media: "Today, iShares Bitcoin ETF flowed in nearly $1 billion, the second largest inflow since its establishment in January 2024. I still remember someone saying there was no demand at that time." It strongly refuted previous arguments about institutions' lack of interest in Bitcoin.

Currently, the US spot Bitcoin ETF market has shown net inflows for eight consecutive days. Market analysts generally believe that this wave of influx of institutional funds is one of the key factors in the recent rapid rebound of Bitcoin price to $95,000. Nexo analyst Iliya Kalchev made it clear that the net inflow of more than $3 billion in ETF funds last week provided the market with "structural support that could drive further upside."

Reshaping the market structure: How do Bitcoin ETFs provide "structural support"?

Generally speaking, the influx of institutional funds helps to improve market maturity and stability. Compared with highly volatile retail speculation, institutional investors usually have a longer investment vision and a more robust trading strategy.

In terms of the ETF market size, IBIT, which achieved huge inflows this time, is currently the largest spot Bitcoin ETF on the market. Its asset management scale (AUM) has exceeded US$56 billion, firmly occupying a market leadership position. According to Dune data, IBIT exclusively accounts for more than 51% of the entire US spot Bitcoin ETF market, which shows its huge advantages and market influence in attracting funds.

In addition, according to ETFDatabase data, IBIT has ranked among the 33rd largest ETF in the world, and its influence has long crossed the cryptocurrency field and penetrated into the core of traditional financial markets.

New trends at the government level

In addition to the influx of institutional funds brought by ETFs, new trends in supporting Bitcoin have also emerged at the government level recently. The Arizona State Legislature read on Wednesday to pass a landmark bill that can use up to 10% of provident fund to buy bitcoin and include it in the state's reserve assets.

If the bill is successfully signed by the governor, Arizona will become the first region in the United States to include Bitcoin in the official reserves. This is not only a recognition of Bitcoin as a store of value at the local government level, but it may also pave the way for similar bills in other U.S. states and even federal levels.

Market outlook and potential risks

Market analysts generally expect that, supported by the continued steady inflow of ETFs, if Bitcoin price can successfully consolidate above $94,000-95,000, the next important psychological resistance level could be $100,000.

But the risks of Trump's trade war still persist. Can Bitcoin truly consolidate its position as "digital gold" and challenge higher price milestones? The market is paying close attention.

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