BlackRock iShares Trust Drops Over $1 Billion on Bitcoin

BlackRock's iShares Bitcoin Trust (IBIT) has been on a buying spree in recent days, purchasing over $1.218 billion worth of Bitcoin in just 20 stock-trading days.

This significant investment comes despite the choppy consolidation of Bitcoin's price between August 20 and September 15, with no clear trend upwards or downwards.

According to data from SoSoValue, IBIT has recorded seven days of cash inflow amounting to around $1.515 billion since August 26, while registering six days of cash outflows totaling approximately $297.8 million over the same period.

This surge in Bitcoin holdings has propelled BlackRock's net assets to around $62.22 billion at the time of writing.