BlackRock IBIT Bitcoin ETF money enter don shoot up to $983M wey high for di week
BlackRock’s iShares Bitcoin Trust (IBIT) record one-week net inflow of $983M — di biggest Bitcoin ETF demand for one week in six months — CryptoQuant guy Ki Young Ju tok am. Dis na follow di earlier 2024 SEC approval wave for spot Bitcoin ETFs and e show say institutional investors don dey ready to take risk again.
IBIT still di biggest spot Bitcoin ETF by assets and e dey beat other ETFs. For di flow breakdown wey dem cite, IBIT add $983M, Fidelity’s FBTC gain $312M and ARK 21Shares’ ARKB rise $150M. Bitwise’s BITB add $88M, while Grayscale’s GBTC show -$45M net outflows, meaning investors fit dey rotate from higher-fee products to lower-cost ETF exposure.
Di inflow coincide with wider rebound: BTC gain about 12% that week and e regain near $70,000 level. CryptoQuant on-chain read say purchases dey driven by registered investment advisors and pension funds, with coins dem move to cold storage — fit reduce supply wey dey available on exchanges.
For traders, steady BlackRock IBIT inflows fit act as short-term support if BTC hold key breakout levels. But earlier estimates still flag big unrealized losses for ETF holders (paper losses around $12B, average cost basis near $89,000 vs spot). If ETF inflows slow and BTC stall, selling pressure fit return.
Bullish
Di latest update show say BlackRock IBIT collect $983M weekly inflow, na biggest since early-2024. That kain persistent ETF demand usually dey support BTC because e dey reinforce di “institutional bid” narrative and fit make dem move coins go cold storage, wey go reduce di sell liquidity wey dey easily available. E come coincide wit BTC reclaiming about $70k and about 12% weekly rise, aligning flows wit price momentum — normally na bullish sign for continuation trades. Di main risk wey fit limit am na say earlier comments show big unrealized losses for ETF holders (paper losses around ~$12B). If IBIT inflows fade while BTC just dey stall, holders fit turn more sensitive to selling, wey go weaken di near-term bid. Overall, di direction and size of di new inflow data outweigh dat risk for BTC in di near term.