TLDR:
- BlackRock’s IBIT Bitcoin ETF recorded $970.9 million in inflows on April 28, 2025, marking its second-best day ever
- Most other Bitcoin ETFs experienced outflows, with ARKB losing $226.3 million
- Bitcoin ETFs have seen seven consecutive days of net inflows totaling over $3.7 billion
- IBIT’s total assets under management now exceed $42 billion
- Ethereum ETFs are also recovering with $231.7 million in inflows over three recent trading days
BlackRock’s Bitcoin ETF (IBIT) has recorded nearly $1 billion in inflows in a single day, showing renewed investor confidence in cryptocurrency investment vehicles. This comes after a period of market uncertainty related to trade tensions.
According to data from Farside Investors, IBIT attracted $970.9 million in net inflows on April 28. This marks the second-highest daily inflow since the fund’s launch in January 2024.
The strong performance stands in contrast to most other Bitcoin ETFs. Fidelity’s FBTC, Bitwise’s BITB, Ark Invest’s ARKB, and Grayscale’s GBTC all recorded outflows on the same day.
ARKB experienced the largest outflows, with $226.3 million leaving the fund. Despite these mixed results, the overall Bitcoin ETF market still posted a net gain of $591.2 million for the day.
BlackRock’s dominance in the space continues to grow. IBIT’s assets under management have now reached over $42 billion. The fund has averaged daily inflows of $130.2 million since its inception.
Market Recovery After Trade War Concerns
The recent strong performance comes after a difficult period for crypto ETFs. For weeks, these investment vehicles experienced outflows as markets reacted to President Trump’s trade policies.
Initially, Trump’s administration announced broad tariffs affecting multiple countries. Later, these measures were narrowed to focus primarily on China. The resulting economic uncertainty put pressure on cryptocurrency markets.
However, Bitcoin ETFs have now recorded seven straight days of net inflows beginning April 17. During this period, these funds have attracted more than $3.7 billion in new investments.
Bloomberg ETF expert Eric Balchunas described the situation as “two steps forward mode after taking one step back.” This suggests a broader recovery may be underway in the cryptocurrency investment sector.
Damn. ETFs are in two steps fwd mode after taking one step back, which is the pattern we predicted from the get-go. https://t.co/bNRorN3qMf
— Eric Balchunas (@EricBalchunas) April 29, 2025
Ethereum ETFs Show Signs of Life
Ethereum ETFs are also beginning to show positive momentum. Like their Bitcoin counterparts, these funds felt the impact of global economic uncertainty caused by trade tensions.
Over the three most recent trading days (April 24, 25, and 28), Ethereum ETFs recorded net inflows totaling $231.7 million. This represents a modest but clear reversal from previous outflow trends.
BlackRock’s Ethereum ETF (ETHA) is leading this recovery. The fund attracted $40 million on April 24, followed by $54.4 million on April 25, and $67.5 million on April 28.
The April 28 figure represents ETHA’s strongest day since February 4, when it drew in $276.2 million. While not matching the scale of IBIT’s success, these numbers indicate growing investor interest in Ethereum exposure through regulated products.
The consecutive days of inflows suggest investor sentiment may be improving across the cryptocurrency ETF landscape. Market observers will be watching closely to see if this trend continues in the coming weeks.
IBIT’s record-setting performance on April 28 puts it in a league of its own among crypto ETFs. The only better day in the fund’s history came shortly after the US elections on November 7, when it attracted over $1.1 billion.
