BlackRock Bitcoin Fund Sees Massive Inflows Amid Crypto Market Pullback

BlackRock's iShares Bitcoin Trust has seen significant growth in recent days, with investors pouring in $269.3 million on Thursday. This influx of capital marks the fund's best day since early March and highlights the strong demand for Bitcoin among institutional and retail investors.

The flow data shows that BlackRock's IBIT has now attracted $1.5 billion worth of net inflows this year, despite the broader crypto market pullback. The fund's digital assets head, Robert Mitchnick, had previously noted that investors in IBIT tend to be 'disproportionately long-term buy and hold' investors.

The strong performance of BlackRock's ETF has been matched by other US spot Bitcoin funds, which have seen a total of $358.1 million flow into them over the past day. This marks a significant shift from the previous two days, during which these funds had seen net outflows.