BlackRock Adds Another $183 Million to Bitcoin Stash

BlackRock has made another substantial purchase of Bitcoin, this time investing $183.41 million in the asset.

The large buy reflects growing institutional demand for Bitcoin, which has been slowly gaining traction after a two-month period of steady losses.

This comes on the heels of a bullish trend across the Bitcoin ETF market, with over $233 million recorded in collective net inflows for the day, making it the largest single-day influx since early July.

BlackRock's dominance in the market is further solidified by its position as the issuer with the largest Bitcoin purchase among all issuers.

The firm's move also coincides with a rebound in Bitcoin prices, which have posted a 9.02% return for the month of July after months of steady losses.