BlackRock Bitcoin ETF pulls in 612 million yuan over seven days, and investors keep adding to their positions despite losses

April 13 weekly data shows that Bitcoin spot ETFs recorded approximately $786 million in weekly capital inflows. BlackRock’s iShares Bitcoin Trust (IBIT) leads with $612 million in single-week inflows, with buy volume exceeding the combined totals of all other ETF issuers, accounting for roughly 78% of total weekly inflows across the entire market. Despite many IBIT investors facing unrealized losses, the data shows they have not withdrawn—instead, they keep adding.

This Week’s Inflow Structure: BlackRock Dominates Buys by an Overwhelming Margin

(Source: Arkham)

Of the total $786 million inflows, BlackRock’s IBIT alone accounts for $612 million. Fidelity and other smaller-scale ETFs also saw inflows, but their scale is far behind BlackRock’s, revealing a clearly concentrated market pattern.

So far, the total amount of Bitcoin held by IBIT has reached 790,808 BTC (about $57.2 billion), making it the largest Bitcoin ETF holding worldwide. Notably, BlackRock’s first-quarter ETF portfolio value fell by 25%, but the pace of buying has not slowed down. This “adding positions against the tide” posture has been interpreted by the market as a strategic confirmation of BlackRock’s long-term Bitcoin holdings.

Continued Accumulation Under Unrealized Losses: A Collective Simulation of a Cost-Averaging Strategy

Estimated data suggests the average buy cost for IBIT investors is about $89k per Bitcoin. Based on the current market price of around $70k, most IBIT holders face an unrealized loss of over 20%. However, capital flow data shows that investors have not chosen to cut losses and exit—they continue to add. This is the collective manifestation of a Dollar-Cost Averaging strategy.

This behavior reflects the fundamental differences between institutional investors and retail investors: institutional capital operates on a quarterly or annual scheduling cycle, and its tolerance for short-term volatility is far higher than that of individual investors. The continued accumulation by large institutions also has an inherently reinforcing market signaling effect.

Comprehensive Overview of This Week’s Crypto ETF Capital Flows

Weekly Capital Flows by Category of Crypto ETFs (April 7–13)

Total Bitcoin ETFs: Weekly inflows of $786 million (BlackRock IBIT accounts for $612 million; Fidelity and other small ETFs together make up the remainder)

Total Ethereum ETFs: Weekly inflows of $187 million, led by BlackRock ETHA and ETHB trust funds

XRP funds: Weekly inflows of $12 million, with demand staying relatively steady

Solana-related products: Weekly outflows of $6 million, with capital pulling back this week

The $187 million inflow data for Ethereum ETFs indicates that institutional capital this week mainly focused on the two major mainstream assets—Bitcoin and Ethereum—while institutional demand for other assets such as Solana appeared relatively weak.

Frequently Asked Questions

Why can BlackRock’s IBIT keep dominating capital inflows even amid market uncertainty?

IBIT has become one of the most important compliant channels for institutional investors to enter the Bitcoin market. Institutional capital is scheduled over a longer time horizon, so short-term market volatility has limited impact on decision-making. BlackRock’s brand credibility and the depth of IBIT’s liquidity give it a significant competitive advantage when institutions choose ETF tools.

Why do IBIT investors keep adding despite being in unrealized losses?

Most IBIT investors’ average buy cost is about $89k, which is higher than the current market price, leaving a clear unrealized loss. However, institutional investors typically respond with a cost-averaging strategy—adding during pullbacks to lower the overall cost of holdings, rather than admitting mistakes and exiting. This reflects institutional strategic confidence in Bitcoin’s long-term value, not a logic of short-term trading.

How did Ethereum ETFs and other crypto asset ETFs perform this week?

Ethereum ETFs recorded $187 million in net inflows this week, led by BlackRock ETHA and ETHB trust funds, indicating that institutional demand for Ethereum is also steady. XRP funds saw inflows of $12 million; Solana-related products recorded outflows of $6 million. Overall, this week’s capital is clearly concentrated in the two major mainstream assets—Bitcoin and Ethereum.