BlackRock Buys $1.5B in Bitcoin, Expands Dominance in ETF Market

BlackRock, a leading asset management firm, has significantly expanded its Bitcoin holdings after a month of consistent inflows through its Bitcoin funds.

The data from Arkham Intelligence shows that BlackRock purchased a net total of $1.57 billion worth of Bitcoin over the past month.

This acquisition comes after Bitcoin's recent rebound to above $84,000, which sparked fresh interest from institutional investors.

BlackRock now holds 801,769 BTC, worth about $67.87 billion at Bitcoin's current price.

This marks a substantial increase in BlackRock's Bitcoin holdings, further solidifying its position as a dominant fund in the Bitcoin ETF market.