Crypto
BlackRock Adds $196M Worth of BTC to Institutional Investment Trust
BlackRock's institutional Bitcoin investment trust (IBIT) has accumulated a significant amount of BTC in a recent transaction. On October 2, 2026, IBIT absorbed 2309.6 BTC valued at $196.6 million directly from Coinbase Prime.
This move is part of a larger trend of increased institutional investments in spot Bitcoin products over the past year. BlackRock has consistently led weekly inflows and reduced available supply on exchanges.
The recent price action on the 4-hour chart suggests that BTC is trading above the EMA50 at $83,995.44. The MACD golden cross at 392.01 indicates bullish momentum, while the RSI remains neutral at 48.33, leaving room for potential growth before any retracement.