Key Takeaways
- BlackRock acquired $970 million in Bitcoin, its third-largest purchase since the spot Bitcoin ETF launch.
- The acquisition increases BlackRock’s Bitcoin holdings via the iShares Bitcoin Trust (IBIT).
BlackRock, the world’s largest asset manager, executed its third-largest Bitcoin purchase since launching its spot Bitcoin ETF. On Monday, its iShares Bitcoin Trust (IBIT) raked in around $970 million in net inflows.
BlackRock has positioned its spot Bitcoin ETF as a key vehicle for traditional investors, enabling entry into cryptocurrency markets through familiar financial products. The fund has emerged as a standout performer among the company’s offerings.
Institutional giants increasingly favor spot Bitcoin ETFs over direct holdings, reflecting a shift toward regulated avenues for Bitcoin exposure. The funds provide direct price exposure without requiring personal custody of the digital asset.
Source: https://cryptobriefing.com/blackrock-bitcoin-purchase-ibat/