Key Insights
- Spot Bitcoin ETFs have seen net inflows for 29 of the past 33 trading days.
- BlackRock has led these ETF inflows nearly all the way through, showing strong institutional interest.
- New U.S. regulations and the rising adoption of stablecoins are boosting crypto’s legitimacy.
BlackRock is taking center stage in the ongoing institutional interest wave in Bitcoin. BlackRock’s spot Bitcoin ETF, IBIT, has consistently led in daily inflows over the past month.
The asset manager’s IBIT also raked in an impressive $34.4 million on 30 July. This marked 6 consecutive days of inflows.
Bitcoin is holding steady between $116,000 and $119,000. Amid this, the ongoing wave of institutional inflows is helping to keep the bullish sentiment afloat.
BlackRock Leads Institutional Momentum Amid Bitcoin Market Stagnation
Spot Bitcoin ETFs are enjoying a record-setting run. According to data from Santiment, these funds have recorded net inflows on 29 of the last 33 trading days. They have now brought cumulative investments to over $55 billion.
On July 30 alone, total net inflows into spot Bitcoin ETFs hit $47.03 million according to data from Farside Investors. As expected, IBIT of BlackRock accounted for the bulk with $34.47 million. Bitwise’s BITB further followed this at $12.66 million.
Interestingly, no other spot ETF showed movement that day, based on SoSoValue and Farside Investors’ data. These numbers show that institutions are not backing off despite Bitcoin’s reluctance to break above the $122,000 price.
Instead, they’re doubling down, even as Bitcoin trades sideways. Insights from analysts at QCP Capital even show that this trend could drive Bitcoin beyond $120,000 in the medium term. This could especially be seen if regulatory clarity continues to improve.
BlackRock Backs Bitcoin as “Pure Alpha”
The most recent market report of BlackRock pointed out Bitcoin’s value as a market leader in the current cycle. It was released on July 28. The firm described Bitcoin as “pure alpha,” referring to it as a rare asset that consistently outperforms others over time.
According to BlackRock, Bitcoin’s role is becoming more defined. This happens as institutions seek non-traditional assets that can thrive amid inflation, volatility, and geopolitical uncertainty.
This works well with general investor behavior, as the continued ETF inflows show. “We still see Bitcoin adoption as a distinct driver of risk and return,” BlackRock stated.
This narrative is spreading across the industry. Firms like Strategy continue to raise capital to actively increase their Bitcoin holdings.
Ethereum ETFs Are Gaining Ground Too
While Bitcoin is currently in the limelight, Ethereum is not far behind. Spot Ethereum ETFs logged $5.79 million in net inflows on July 30, marking their 19th consecutive day of gains.
BlackRock’s ETHA saw $20.29 million in new investments, while Grayscale’s ETHE followed with $7.77 million. Fidelity’s FETH, however, reported outflows of over $22 million. This means a slight trend of portfolio rebalancing across institutions.
Meanwhile, corporate players are increasing their ETH exposure. SharpLink Gaming recently announced its purchase of 77,210 ETH (worth $290 million). Their holdings now sit at 438,190 ETH, which is valued at around $1.69 billion at current prices.
In contrast, BitMine Immersion Technologies is the largest corporate ETH holder with 625,000 ETH. It also has an asset base valued at $2.35 billion.
Stablecoin Regulation Paves the Way
Another driver of this bullish sentiment is regulation, specifically the Genius Act. For context, the GENIUS Act defines stablecoins as payment tools, rather than investment assets.
This law now requires stablecoin issuers to hold short-term, liquid reserves like Treasury bills and money market funds. In its report, BlackRock praised the Genius Act. It called it a milestone that could help the U.S. become a hub for digital finance.
The firm believes this will strengthen the dollar’s role in international payments while encouraging the crypto space to grow. As more capital flows in and regulatory clarity continues to unfold, BlackRock’s actions could help push Bitcoin.