BlackRock Loads Up on Over $120M in Bitcoin Amid Market Recovery
BlackRock's iShares Bitcoin Trust (IBIT) has seen significant inflows over the past week, according to data from spot Bitcoin ETF flows. Between September 14 and September 18, BlackRock accumulated more than $120 million worth of Bitcoin (BTC), a substantial increase in its investment portfolio.
The fund experienced a net inflow of approximately $120.6 million during this period, with notable spikes on September 17 and 18 when it attracted $183.7 million and $108.4 million respectively. This surge in demand comes as Bitcoin regained the $80,000 level following a turbulent period marked by rising Treasury yields, inflation concerns, and a Federal Reserve rate hike.
Meanwhile, BlackRock's Ethereum (ETH) ETF products saw a combined net outflow of about $49.1 million over the same five-session period. This divergence in investor sentiment suggests that institutional investors are currently showing stronger demand for Bitcoin exposure than Ethereum exposure through regulated ETF products.