BlackRock Clients Pile Back into Bitcoin with Record $319M Weekly Inflows

BlackRock's iShares Bitcoin Trust (IBIT) has seen significant inflows in recent weeks, recovering some of the losses incurred during June's sell-off. According to data, between July 20 and 22 alone, IBIT pulled in around $319 million in inflows, contributing to a total weekly haul of $499 million across all US spot Bitcoin ETFs.

This marks a significant shift from earlier this year when institutional investors were heading for the exits. In June, IBIT accounted for approximately 73% of total Bitcoin ETF outflows, bleeding around $1.3 billion in a single week.

As of July 30, IBIT held approximately 739,066 BTC, valued at around $47.67 billion in net assets, which is roughly 3.5% of all Bitcoin that will ever exist.