BlackRock's Bitcoin ETF Sees Massive Inflows as Sector Shows Recovery

TLDR

Table of Contents

BlackRock’s IBIT recorded nearly $1 billion in inflows on April 28, its second-best day ever
Bitcoin ETFs have seen seven consecutive days of positive net inflows totaling over $3.7 billion
Total Bitcoin ETF assets have rebounded to over $109 billion after falling to $85.7 billion in early April
Ethereum ETFs are also showing signs of recovery with three consecutive days of inflows
Grayscale is advocating for regulatory changes to allow Ethereum ETPs to participate in staking

BlackRock’s Bitcoin exchange-traded fund (IBIT) has recorded its second-best day ever, attracting nearly $1 billion in inflows on April 28. This comes as part of a broader recovery in crypto ETF interest, with Bitcoin funds posting seven consecutive days of positive net inflows.

Data from Farside Investors shows IBIT pulled in $970.9 million on Monday alone. This impressive figure represents the highest inflow since November 7, when the fund saw over $1.1 billion added following the US elections.

The strong performance of BlackRock’s product stands in contrast to most other Bitcoin ETFs, which experienced outflows on the same day. Funds from Fidelity, Bitwise, Ark Invest, and Grayscale all saw negative flows, with Ark’s ARKB experiencing the most substantial losses at $226.3 million.

Despite mixed performance across products, the sector as a whole recorded $591.2 million in net inflows for the day. This positive result was entirely due to BlackRock’s dominant performance.

Recovery After Market Uncertainty

The recent streak of inflows began on April 17, coming after weeks of outflows amid market uncertainty. Over the seven-day streak, Bitcoin ETFs have attracted more than $3.7 billion in new investments.

This influx of capital has pushed the total assets under management for Bitcoin ETFs above $100 billion for the first time since early March. Current figures show the sector managing approximately $109.3 billion worth of Bitcoin.

This represents a 26.4% recovery from the local low of $85.7 billion recorded on April 8. The sector previously reached an all-time high of $123.6 billion on January 21.

Bloomberg ETF expert Eric Balchunas characterized the substantial inflows toward IBIT as “two steps forward mode after taking one step back.” The current streak marks the longest period of consecutive inflows for Bitcoin ETFs in two months.

Damn. ETFs are in two steps fwd mode after taking one step back, which is the pattern we predicted from the get-go. https://t.co/bNRorN3qMf
— Eric Balchunas (@EricBalchunas) April 29, 2025

BlackRock’s IBIT has been particularly successful, with its assets under management now exceeding $42 billion. Since its launch in January 2024, the fund has attracted an average of $130.2 million per day.

Ethereum ETFs Show Signs of Life

Ethereum ETFs have also begun showing signs of recovery, though not as dramatic as their Bitcoin counterparts. These funds have posted three consecutive days of inflows, their longest positive streak since mid-February.

From April 24 through April 28, Ethereum ETFs attracted net inflows worth $231.7 million. BlackRock’s ETHA fund led this recovery with consistent growth: $40 million on April 24, $54.4 million on April 25, and $67.5 million on April 28.

The April 28 figure for ETHA represented its highest single-day inflow since February 4, when the fund attracted $276.2 million. Ethereum ETFs now manage $6.2 billion in assets, up from an all-time low of $4.98 billion on April 4, though still well below their peak of $14.3 billion reached in December 2024.

This recovery comes as Grayscale advocates for regulatory changes that would allow Ethereum ETPs to participate in staking. According to documents from an April 21 meeting with the SEC’s Crypto Task Force, Grayscale estimates that US-based Ether ETP providers could miss out on $5.5 billion worth of staking rewards over the next decade if current prohibitions remain in place.

The company noted that “ETH ETPs have foregone approximately $61 million as a result of not being able to participate in staking from launch through February 2025, not including daily compounding of rewards.”

As crypto markets show signs of stabilization, BlackRock continues to dominate the ETF landscape. The asset manager’s products accounted for all inflows to U.S. crypto ETFs on April 28, highlighting its growing influence in the digital asset space.

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