BlackRock's IBIT Dominates US Spot Bitcoin ETF Market with Record Inflows

BlackRock's iShares Bitcoin Trust (IBIT) has seen significant growth since its launch in January, attracting over $63 billion in net inflows. This represents about 60% of the entire US spot Bitcoin ETF market, which is estimated to be worth between $97 and $100 billion. In recent days, IBIT has surged nearly 6%, fueled by $300 million in daily net inflows.

This strong institutional demand provides a new structural support for Bitcoin prices, which have hovered in the mid-to-high $70,000s. Unlike previous cycles, investors now have more straightforward options to gain exposure to Bitcoin, contributing to its increased popularity.