BlackRock Pours $643 Million Into Bitcoin ETF: A Clear Signal of Institutional Confidence in BTC
BlackRock’s Bitcoin ETF recorded a $643 million inflow on April 23, a major milestone that signals a sharp increase in institutional confidence in Bitcoin (BTC). The move comes shortly after Bitcoin crossed the $94,000 mark, reinforcing the trend that the crypto market is entering a new bull cycle.
Launched in January 2024, BlackRock’s iShares Bitcoin ETF (IBIT) has become the flagship of US spot Bitcoin ETFs, with total net inflows currently surpassing $40.63 billion.
The driving force behind this wave of buying comes not only from Bitcoin’s strong price momentum but also from positive geopolitical signals. In particular, former President Donald Trump’s recent statements about the possibility of easing global trade tensions have contributed to the increased optimism among investors.
Cryptocurrency Market Hits New High, Bitcoin Leads
Along with ETF inflows, the total cryptocurrency market capitalization hit $2.94 trillion — a figure that only lasted for a short time before a slight correction, bringing Bitcoin back to around $92,500. However, Bitcoin still recorded a gain of more than 27% from its low of $74,000 set in early April.
Bitcoin Continues to Strengthen Its Leadership
Not only is Bitcoin’s price rising, its market dominance is also expanding. According to the latest survey by Crypto Insights Group, 70% of hedge fund managers now believe that Bitcoin will continue to decouple from altcoins in the next 12 months — a jump from 23% last year.
Fund managers with over $5 billion in assets under management believe that three key factors are strengthening Bitcoin’s position: high liquidity, its role as a safe haven asset during times of uncertainty, and a more favorable regulatory environment than most other digital assets.
Currently, Bitcoin accounts for 63.6% of the total cryptocurrency market capitalization, up nearly 3% in the past 24 hours alone, affirming its position as the undisputed “king” of the industry.
Significance of the Event
The rising institutional money and positive sentiment around Bitcoin suggest that BTC is not only holding firm but also widening the gap with the rest of the market. This event could be the beginning of a new long-term growth phase, with Bitcoin playing a central role in the portfolios of major financial institutions.