BTC Spot ETF, 8 consecutive trading days of net inflow…Led by BlackRock

Bitcoin Spot ETF Inflow (Source: @thepfund, X)

As of April 29 (local time), the US Bitcoin spot ETF had a net inflow of 173 million dollars (about 247.6 billion won) for 8 consecutive trading days. Cryptocurrency market analyst TraderT reported this via X (formerly Twitter), stating that BlackRock is at the center of this net inflow trend.

There was an influx of 216.95 million dollars in BlackRock's IBIT ETF in just one day. On the other hand, 6.24 million dollars was withdrawn from Fidelity's FBTC, 24.39 million dollars from Bitwise's BITB, and 13.32 million dollars from Ark Invest's ARKB. Besides these, there were no significant fund movements in other ETF products such as Invesco, Franklin, Valkyrie, VanEck, WisdomTree, and Grayscale.

The market interprets that while BlackRock IBIT maintains a strong buying flow, some other ETFs are realizing profits or adjusting positions. The continuous inflow of institutional funds into the spot ETF market is perceived as a positive signal for Bitcoin prices, and attention is focused on whether the BlackRock-centered fund flow will continue for the time being.