BlackRock Buys $1.64B in Bitcoin in 10 Days

Key Points

• BlackRock’s iShares Bitcoin Trust (IBIT) had 10 days of inflows and accumulated $1.64 billion in Bitcoin. 
• As of late-April, IBIT’s total holdings have climbed to approximately 806,178 BTC, valued at over $61 billion

BlackRock’s iShares Bitcoin Trust (IBIT) has seen 10 straight days of inflows. According to recent data, IBIT has accumulated $1.64 billion in Bitcoin (BTC) over the last ten days. The institutional momentum is gaining pace once again as the trading price of Bitcoin reaches $77k. 

IBIT Gains Momentum

IBIT is BlackRock’s Bitcoin exchange-traded fund. Between April 8 and April 20, IBIT has registered a net cash inflow of approximately $1.609 billion. The highest single-day inflow for IBIT was recorded on April 15 at $291.86 million, which is approximately equivalent to 3,891 BTC. The smallest daily cash inflow was $34.70 million on April 13, which is equivalent to 473 BTC.

U.S. spot Bitcoin ETFs have been on a road to recovery in the last week, collecting approximately $1 billion in net inflows. IBIT led from the front and accumulated $906 million in that week. As of late April, IBIT’s total holdings have climbed to approximately 806,178 BTC, valued at over $61 billion. 

Despite volatility and rising competition from corporate buyers such as Strategy Inc., BlackRock’s continued inflows suggest that traditional finance is increasingly integrating Bitcoin to diversify its portfolios.