BlackRock's Bitcoin ETF purchased approximately $9.7 million (about 142 billion won) worth of Bitcoin (BTC) on April 28th. This is the second-largest daily net inflow since the ETF's launch, following a record-breaking inflow after the net purchase of $1.12 billion (about 1.635 trillion won) recorded on November 7th last year.
According to market analysis firm Sosovalue, BlackRock's iShares Bitcoin Trust (IBIT) purchased a large volume of assets on behalf of customers that day, providing a *structural support* to Bitcoin prices. Moreover, these large inflows are acting as a key factor driving Bitcoin's upward trend, with institutional demand's influence on the market increasingly growing.
BlackRock has established itself as the largest Bitcoin spot ETF issuer this year, attracting numerous institutional investors, with IBIT consistently recording top-tier net inflows. Experts particularly believe that the upcoming US presidential election in the second half of the year and Trump's crypto-friendly stance could be another catalyst accelerating capital inflows.
Along with continuous institutional fund inflows, BlackRock ETF's stable operating performance is reinforcing the perception of Bitcoin as a long-term holding asset. The industry expects Bitcoin's medium to long-term upward momentum to gain more strength with the growth of the ETF market.
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