BlackRock's iShares Bitcoin Trust Sees 455 BTC Inflow, Dominates Market

BlackRock's iShares Bitcoin Trust (IBIT) has once again demonstrated its dominance in the Bitcoin ETF sector by recording the largest one-day inflow among all Bitcoin ETFs. According to data from Lookonchain, IBIT added 455 BTC to its holdings in the last 24 hours, bringing its total to 571,869 BTC. This significant inflow outweighed the collective outflows seen across competitors, highlighting IBIT's strong position in the market.

Fidelity’s FBTC, the second-largest Bitcoin ETF by assets, maintained its position with no inflows or outflows. ARK 21Shares (ARKB) added 160 BTC, while Bitwise (BITB) gained 131 BTC. In contrast, Grayscale’s GBTC experienced continued pressure with a one-day outflow of 8 BTC and a larger seven-day net outflow totaling 1,137 BTC. Overall, Bitcoin ETFs saw a net inflow of 672 BTC on the day, equivalent to approximately $56.38 million. However, the weekly figure remains negative at -2,794 BTC, which is worth around $234 million.

Despite the market uncertainty and nervousness, Bitcoin ETFs have returned to net positive territory. This development is particularly noteworthy given the recent volatility in the cryptocurrency market. The price of Bitcoin is currently trading around $84,391, showing signs of recovery after volatile overnight action. The intraday chart reflects consolidation and a brief upward spike following earlier sell pressure. Weekly net inflows into Bitcoin ETFs now stand at $77.89 million, though momentum appears mixed.

BlackRock's involvement in the digital asset space is further highlighted by its Q1 report, which revealed that $3 billion of its $107 billion ETF inflows came from digital asset products under the iShares line. The firm earned $34 million in fee revenue from Bitcoin and Ethereum ETFs combined, which is less than 1% of its total revenue. The digital asset AUM figure reached $50.3 billion, representing only 0.5% of BlackRock’s total $11.6 trillion assets under management. This indicates that while digital assets are a growing part of BlackRock's portfolio, they still constitute a small fraction of its overall assets.