BlackRock Clients Fuel Bitcoin ETF Surge with $273 Million Inflows
BlackRock's iShares Bitcoin Trust has seen significant inflows in late July, totaling $319 million. This influx of capital led to a $499 million weekly gain across US spot Bitcoin ETFs after a $1.3 billion outflow in June.
The total flow into Bitcoin ETFs this year remains negative at $4.76 billion, indicating that much of the lost capital has yet to return.
As BlackRock's fund holds about 3.5% of all Bitcoin, its client activity serves as a crucial market indicator. Sustained inflows above $200 million weekly would signal stronger bullish momentum for Bitcoin ETFs going forward.