A bone marrow access apparatus is adapted to be installed in connection with a bone. The bone marrow access apparatus includes a bone penetrating member having an internal channel having an opening at a proximal end and an opening at a distal end adapted to open into in a bone marrow space in the bone. A valve cap is provided around part of the bone penetrating member, and includes a valve having an opening having an open state in which the channel is not obstructed and a closed state to prevent flow of a material through the channel.