BlackRock's Billion-Dollar Bitcoin Buying Spree Continues

BlackRock has bought over $1 billion worth of Bitcoin in just 20 days through its iShares Bitcoin Trust (IBIT), according to data from SoSoValue.

The purchases were made between August 20 and September 15, with IBIT's net assets rising to around $62.22 billion at the time of writing.

During this period, BlackRock recorded seven days of cash inflows totaling approximately $1.515 billion, while experiencing six days of cash outflows amounting to roughly $297.8 million.

This significant increase in Bitcoin holdings has contributed to a net cash inflow of over $956 million for US spot Bitcoin exchange-traded funds (ETFs) during the same period.