Market analysts have told Cointelegraph that BlackRock's continued ETF investments may provide "structural support" for Bitcoin's price appreciation.
Key Purchase Highlights
- BlackRock's iShares Bitcoin Trust (IBIT) ETF acquired $970 million worth of Bitcoin on April 28.
- This marks the second-largest single-day inflow in IBIT's history, surpassed only by its $1.12 billion purchase on November 7, 2024.
- The transaction elevated total net inflows for U.S. spot BTC ETFs to $590 million+, overshadowing outflows from competing funds.
Market Impact
- IBIT now manages $54 billion+ in assets, commanding 51% of the spot BTC ETF market share.
- This positions IBIT as the 33rd-largest ETF globally (per ETF Database), bridging crypto and traditional finance.
Why This Matters
Bitget Research analyst Ryan Lee notes:
"Last week's ETF inflows and institutional buys were pivotal in pushing Bitcoin above $94,000, even as retail interest lagged."
Structural Support for BTC Rally
- U.S. spot Bitcoin ETFs recorded $3B+ net inflows last week — the second-highest weekly total since launch.
Nexo's Iliya Kalchev observes:
"This inflow surge provides the scaffolding for sustained upward momentum, though volatility remains likely."
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FAQ: BlackRock's Bitcoin ETF Activity
Q: How does BlackRock's ETF affect Bitcoin's price?
A: Large-scale institutional purchases create buy-side pressure, often correlating with price rallies.
Q: What percentage of Bitcoin demand comes from ETFs?
A: During key rallies (e.g., February 2024), ETFs accounted for ~75% of new investment inflows.
Q: Is IBIT the dominant Bitcoin ETF?
A: Yes, with 51% market share, it's nearly 3x larger than its closest competitor.
Q: Are retail investors driving this surge?
A: Current data shows institutions lead, though retail participation typically follows price breakthroughs.
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