BlackRock Accumulates $296M in Bitcoin via ETF Inflows

BlackRock has snapped up 4,309 BTC worth $296.75 million, reigniting bullish narratives amid ETF discussions. This inflow arrives after weeks of outflows, showcasing sustained institutional appetite. Professional investors eye it as a vote of confidence in Bitcoin's trajectory.

Ash Crypto's on-chain alert details the purchase into BlackRock's IBIT ETF, pushing holdings past 500,000 BTC. Replies clarify this as client-driven ETF accumulation, not direct corporate buys, yet it counters prior redemption pressures. CryptoWealthPath ties it to recent rallies post-Jane Street lawsuit, with BTC up 10% alongside ETH and SOL. Similar patterns emerge in recent reports: BlackRock added $150 million in BTC/ETH earlier, $142 million in February, and more. Yahoo Finance and Phemex highlight ongoing inflows signaling long-term positioning. Trading volumes hit records, like $10 billion for IBIT, per CoinDesk. Institutions like Goldman Sachs hold billions in crypto assets, amplifying this move's weight. With U.S. crypto bills advancing, such accumulations fortify Bitcoin's foundation against volatility.

This bolsters Bitcoin's price floor around $64,000, encouraging long-term holders and drawing peers. Institutional flows stabilize markets, reducing retail liquidation risks. It paves the way for broader adoption among funds and pensions.

BlackRock's latest haul affirms Bitcoin's maturing appeal to Wall Street. Expect continued inflows as regulations clarify. Institutional investors stand to benefit from this strategic buildup in the digital gold standard.

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