While Bitcoin ETF activity is regaining momentum after a quiet period, investor demand remains subdued compared to past market cycles. BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the market leader in this resurgence, driving a majority of inflows and influencing confidence among investors, particularly institutional players. Despite recent price stability above $113,689, total daily ETF inflows remain relatively modest, less than 1,000 BTC per day, signifying cautious enthusiasm rather than widespread excitement. The renewed activity reflects growing institutional interest in Bitcoin as a core investment asset. Glassnode data shows that Bitcoin’s recent price rebound from $107,000 was accompanied by the influx of funds into spot ETFs. BlackRock’s dominance in the ETF market is clear. The company has received $26.9 billion in net inflows this year, with IBIT accounting for a massive $28.1 billion of that total, making it the leading force. Conversely, Grayscale’s GBTC continues to struggle with negative flows since its January 2024 conversion. This lackluster performance has weighed heavily on the ETF market, although analysts estimate removing both IBIT and GBTC would leave overall market trends slightly positive.