Institutional investors funneled $163.94 million into Bitcoin through BlackRock's iShares Bitcoin Trust (IBIT) in a single day, according to data shared by crypto analyst CryptoGoos on X. The purchases went through at an average price of around $63,720, a level many large players appear to treat as a buying opportunity rather than a warning sign.
Six straight days of ETF inflows
The one-day IBIT surge doesn't stand alone. US spot Bitcoin ETFs have logged net inflows for six consecutive days, pulling in a combined $203.1 million over that stretch while BTC climbed back above $65,000. Today the asset sits at $65,776, up roughly 6.3% over the past two weeks after bottoming at $59,099 on June 28, its lowest print since October 2024.
That June low came after weeks of sideways grinding between $59,940 and $66,505, per CoinMarketCap data. The fresh institutional buying is being read by analysts, CryptoGoos among them, as a possible shift into a re-accumulation phase. Some are pointing to $82,500 as a realistic target before month's end, citing ETF capital inflows and buying signals from prominent Bitcoin advocates including Michael Saylor.
IBIT gives institutions BTC price exposure without requiring them to hold the cryptocurrency directly, which has made it one of the fastest-growing access points for large money since its launch. The scale of today's purchase, nearly $164 million in one session, reflects the kind of conviction that tends to move sentiment across the broader market.
This article is for informational purposes only and does not constitute financial advice. Crypto assets carry significant risk; always do your own research before making investment decisions.
