BlackRock's iShares Bitcoin Trust (IBIT) ETF purchased approximately $970 million worth of Bitcoin on April 28, marking its second-largest inflow day after $1.12 billion was invested on November 7, 2024. Analysts suggest that these continued inflows may offer structural support for Bitcoin's price increase. Overall, net inflows to US spot Bitcoin ETFs exceeded $590 million, while other ETFs experienced outflows. The IBIT now holds over $54 billion in assets, representing 51% of the total spot Bitcoin ETF market. Last week's investments totaled over $3 billion, heralding significant market momentum and aiding Bitcoin's recovery, which saw its strongest weekly gain since early 2024. ETF inflows are viewed as a critical component driving Bitcoin's price upwards, reinforcing the association between institutional investments and market performance.

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