Continued investments from BlackRock’s ETF may provide “structural support” for Bitcoin’s price appreciation, market analysts told Cointelegraph.
BlackRock’s exchange-traded fund (ETF) bought nearly $1 billion worth of Bitcoin on behalf of its clients on April 28, with continued inflows providing “structural support” for Bitcoin’s price appreciation, according to market analysts.
BlackRock’s iShares Bitcoin Trust (IBIT) ETF bought $970 million worth of Bitcoin (BTC) on April 28, its second-largest day of inflows on record after scooping up $1.12 billion of BTC on Nov. 7, 2024, Sosovalue data shows.
IBIT’s near $1 billion investment brought total net inflows to US spot BTC ETFs to just above $590 million, with all other ETFs realizing net negative outflows or remaining flat. ARK Invest’s ARKB ETF recorded the highest outflows of $226 million.
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