Key Highlights
- BlackRock acquired approximately $250 million worth of Bitcoin after more than two weeks of outflows.
- Arkham data indicates BTC moved into BlackRock’s IBIT ETF custody addresses.
- The buying spree signals renewed institutional demand amid ongoing Bitcoin market volatility.Â
BlackRock, the world’s largest asset manager, has reversed its recent Bitcoin (BTC) selling streak, acquiring approximately $250 million worth of BTC over the past two days, according to on-chain intelligence platform Arkham. The move follows more than two weeks of daily outflows from BlackRock-linked addresses.
In an X post on Wednesday, Arkham highlighted transfers into BlackRock’s IBIT Bitcoin ETF custody addresses. Market observers are now watching closely to see whether this buying momentum will continue through the rest of the week.Â
The data shows multiple large inflows totaling hundreds of BTC, primarily from Coinbase Prime hot wallets and other sources, into BlackRock’s IBIT Bitcoin ETF addresses. Individual transfers of around 300 BTC (roughly $19 million) suggest significant buying activity.
BlackRock’s renewed accumulation comes at a time when Bitcoin has experienced heightened volatility, with many institutional players adjusting positions amid broader market uncertainty.
Renewed institutional inflows boost U.S. Bitcoin ETFs
BlackRock’s iShares Bitcoin Trust (IBIT) has shown positive movement in U.S. spot Bitcoin exchange-traded funds (ETFs). On July 6, IBIT attracted approximately $209.4 million in new inflows, according to data from SoSoValue. These inflows contributed heavily to the overall sector performance, pushing total net inflows across all U.S. spot Bitcoin ETFs to $265.7 million for the day.
This marked the second consecutive day of positive inflows for the Bitcoin ETF sector, reversing a period of weaker or negative flows observed in late June and early July. IBIT alone accounted for more than half of the day’s total capital inflows.
BlackRock’s iShares Bitcoin Trust (IBIT) also showed strong performance as of July 7. The ETF traded at a +0.27% premium to its net asset value, reflecting investor demand. It recorded $54.80 million in single-day net inflows, with approximately 861 BTC added to its holdings. Cumulative net inflows reached $60.27 billion, while total net assets stood at $46.71 billion.
Buying coincides with BTC price dip
Bitcoin is currently trading around $61,800, down approximately 3.14% in the last 24 hours, according to CoinMarketCap.
The price has dropped from an intraday high of $64,189 to a low of $61,493. Despite the daily loss, BTC shows a +2.85% gain over the past week, indicating short-term volatility within a broader consolidation. Market capitalization stands at $1.23 trillion, with 24-hour trading volume at $29.35 billion.
Sustainability still remains in question
As Bitcoin remains a core asset in many institutional portfolios, BlackRock’s latest moves will likely be scrutinized in the coming days. Questions remain about the sustainability of this buying spree and its potential impact on Bitcoin’s price trajectory in the near term. Will this week see continued accumulation by BlackRock and other institutions?
The broader crypto market will be watching not only BlackRock but also other major ETF issuers and corporate treasuries for signals of sustained institutional interest.
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