BlackRock Buys $970 Million in Bitcoin, Driving Market Growth
Date: 2025-04-30 Author: Gabriel Deangelo Categories: BUSINESS
On April 28, the company purchased $970 million worth of Bitcoin through its iShares Bitcoin Trust (IBIT) exchange-traded fund. This purchase was the fund’s second-largest, behind only the record set in November 2024, when the company purchased $1.12 billion worth of Bitcoin.
According to Farside Investors, BlackRock’s nearly $1 billion investment increased net inflows into U.S. spot Bitcoin ETFs to $590 million. At the same time, other funds showed negative results or remained unchanged. ARK Invest’s ARKB ETF saw the largest outflow, at $226 million. The event caught the attention of Nate Geraci, president of the ETF Store consulting firm, who noted on his X social media page that the iShares Bitcoin ETF had seen its second-largest inflows since the fund’s launch in January 2024.
BlackRock’s iShares Bitcoin Trust is the largest spot Bitcoin ETF with over $54 billion in assets under management, representing 51% of the spot Bitcoin ETF market. Recent inflows have pushed IBIT to 33rd place among the largest ETFs in the world, including both crypto and traditional funds.
The Bitcoin market continues to grow, fueled by spot ETFs. In the past week, US spot Bitcoin ETFs have seen total inflows of over $3 billion, the second-largest amount since these instruments were launched. Bitcoin has seen its biggest weekly gain since Donald Trump’s election victory. Bitcoin ETF investments have historically been a major driver of the cryptocurrency’s growth, expected to account for around 75% of all new Bitcoin investments, especially after the cryptocurrency returns to the $50,000 mark in February 2024, shortly after the debut of U.S. spot Bitcoin ETFs.
