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Spot Bitcoin ETFs recorded another $917 million in inflows on April 23, continuing a strong rebound after early April outflows. BlackRock’s IBIT led the charge with $634.2 million, while Bitcoin’s price surge past $90,000 fueled renewed demand.
- BlackRock’s IBIT captured over 50% of cumulative inflows, solidifying its dominance in the spot Bitcoin ETF market.
- Bitcoin’s surge past $90,000 triggered momentum trading and short squeezes, boosting ETF demand.
- ETF inflows at this pace could absorb 50,000 BTC monthly, far exceeding miner supply and pressuring secondary sellers.
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