BlackRock Clients Flock to $108M Bitcoin Buy Amid Ongoing Institutional Demand

BlackRock's iShares Bitcoin Trust (IBIT) has seen its clients buy $108.44 million worth of Bitcoin in a single session, according to recent data from TradingView.

This transaction is part of a larger trend of consistent institutional demand for IBIT, which has been logging daily inflows ranging from $80 million to over $200 million since its launch in January 2024.

IBIT has become the dominant force in the US spot Bitcoin ETF market, capturing between 50% and 80% of total daily or weekly inflows across all competing products.

This growth has led to BlackRock holding somewhere between 770,000 and 786,000 BTC through IBIT, making it one of the largest institutional holders of Bitcoin globally.