BlackRock's IBIT Buys $479M Worth of Bitcoin Every Day This Week
BlackRock's institutional Bitcoin investment product, IBIT, has been steadily buying Bitcoin every day this week, totaling $478.5 million in inflows. This is according to recent data from Arkham, which tracks on-chain transactions and portfolio holdings.
The buyers of IBIT have purchased Bitcoin directly from Coinbase Prime hot wallets in batches ranging from 250 to 300 BTC each. This has brought the entity's tracked portfolio to approximately 742,000 BTC. On-chain intelligence confirms that these transfers are happening regularly, with multiple same-day transactions from Coinbase Prime into BlackRock.
This sustained institutional interest is reflected in IBIT's dominance of spot Bitcoin ETF inflows, accounting for roughly 76% of all such inflows during this period. Total spot Bitcoin ETF inflows have reached $626 million.