The %BlackRock (NYSE: $BLK) iShares Bitcoin Trust has seen inflows of $970.9 million U.S. in recent days, its second-largest inflow since launching in January 2024.
Industry data shows that $591.2 million U.S. of new capital flowed into the iShares %Bitcoin (CRYPTO: $BTC) Trust on April 28. The trust is an exchange-traded fund (ETF) known by its ticker symbol “IBIT.”
The rising inflows come alongside a 7.2% increase in Bitcoin over the past seven trading sessions, lifting its spot price to $94,700 U.S. currently.
Since April 22, BlackRock’s IBIT ETF has amassed over $4.5 billion U.S. in net inflows, bucking a market downturn that has seen outflows in many other crypto funds.
Bitcoin’s price has been trending higher as investors return to riskier assets that include both %Crypto and stocks, and as the U.S. dollar slumps.
Bitcoin has also been rising alongside the spot price of gold bullion that is hovering near an all-time high and trading above $3,300 U.S. per ounce.
Some analysts say that Bitcoin is finally living up to its role as a store of value and reputation for being “digital gold.” So far this year, Bitcoin has gained 1%.
The stock of BlackRock has declined 10% year-to-date and is currently trading at $913.74 U.S. per share.
