iShares Bitcoin Trust (IBIT) Purchased Nearly $1B Worth of BTC on April 28

BlackRock’s iShares Bitcoin Trust (IBIT) purchased nearly $1 billion worth of BTC on April 28, marking its second-highest daily inflow since its January 2024 launch

BlackRock’s iShares Bitcoin Trust (IBIT) on April 28 saw a nearly $1 billion BTC purchase, marking its second-highest daily inflow since its January 2024 launch, according to data from SoSovalue.

The $970 million buy order brings IBIT’s total assets under management to more than $54 billion, amounting to roughly 51% of the U.S. spot Bitcoin exchange-traded fund (ETF) market share, according to data from Dune Analytics.

Only a previous $1.12 billion haul on November 7, 2024, when the price of BTC was nearing the $100,000 mark for the first time, eclipses the latest figure.

Across the U.S. spot Bitcoin ETF landscape, BlackRock’s inflows carried the day. While IBIT saw a net positive of nearly $1 billion, others struggled to achieve a similar result. ARK Invest’s ARKB ETF posted the largest net outflow at $226 million, pushing total net inflows for ETFs to about $590 million.

President of advisory firm ETF Store Nate Geraci noted on X:

“Nearly $1 bil into the iShares Bitcoin ETF today. Second-largest inflow since January 2024. I still remember when there was ‘no demand.’

The sustained demand has elevated IBIT into the ranks of the world’s 33rd-largest ETF, encompassing both traditional and crypto-focused funds. This ascent underscores how BTC exposure is becoming a deeply embedded feature in institutional investment strategies.”

IBIT Benefits From Bitcoin Price Surge

The iShares Bitcoin Trust has benefited from the price of BTC surging over the past week, with the cryptocurrency rising by more than 5% to now stand above the $95,000 mark.

The cryptocurrency’s price rise comes as investors face increased uncertainty surrounding Trump’s reciprocal tariffs on nearly every country in the world, which led to an escalating trade war with China.

That trade war saw traders move to safe-haven assets, including gold, the Swiss franc, and now, seemingly BTC and other cryptocurrencies. These assets have surged while investors have been moving away from the U.S. dollar, with the U.S. Dollar Index (DXY) having dropped 8.7% year-to-date.

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