BlackRock Unloads Billions on Bitcoin Amid Price Consolidation
BlackRock's cryptocurrency exposure has grown significantly after its iShares Bitcoin Trust (IBIT) purchased over $1.2 billion worth of Bitcoin between August 20 and September 15.
The firm's holdings now amount to approximately 786,654 BTC, a substantial increase in its Bitcoin reserves.
Despite the price consolidation around $76,330, U.S. spot Bitcoin ETFs led by BlackRock saw a net cash inflow of nearly $1 billion, pushing total assets to over $100 billion.
This strong buying activity by BlackRock could support continued bullish momentum in Bitcoin's price.