BlackRock Doubles Down: $970M Bitcoin ETF Purchase Signals Institutional Stamp of Approval

Wall Street’s quiet giant just made its loudest crypto move yet. BlackRock’s record-breaking $970 million Bitcoin ETF buy isn’t just a trade—it’s a tectonic shift in institutional sentiment.

Why this matters: When the world’s largest asset manager goes all-in, even the skeptics start paying attention. This purchase dwarfs previous institutional crypto plays, effectively turning BlackRock’s ETF into the new whale in Bitcoin’s volatile waters.

The fine print: While traditional finance scrambles to understand this bet, crypto natives smirk—after years of being called reckless, suddenly $1B positions are ’prudent portfolio diversification.’ The irony isn’t lost on anyone who remembers Jamie Dimon calling Bitcoin ’a fraud.’

What’s next: Expect copycat moves from rival firms. Nothing gets Wall Street moving faster than FOMO—especially when there’s a chance to charge 2% management fees on digital assets.

In brief

• BlackRock invested 970 million dollars in bitcoin via its IBIT ETF on April 28.
• IBIT now holds 54 billion dollars in assets, representing 51% of the Bitcoin ETF market.
• Bitcoin ETFs recorded more than 3 billion dollars of net inflows in one week.
• This institutional influx could propel bitcoin up to 210,000 dollars by the end of 2025.

Bitcoin ETF: BlackRock injects 970 million dollars into IBIT

The asset management giant BlackRock continues to dominate the Bitcoin ETF market with a spectacular operation! On April 28, its iShares Bitcoin Trust (IBIT) acquired 970 million dollars worth of BTC, marking its second largest day of purchases since January 2024.

This colossal transaction raises IBIT’s assets under management to more than 54 billion dollars, representing 51% of the spot Bitcoin ETF market share in the United States. In comparison, ARK Invest had a tough day, recording a net outflow of 226 million dollars from its ARKB ETF.

The Pillar of a Bull Market

According to analysts, these inflows provide structural support to bitcoin’s momentum. “Nearly 1 billion dollars to IBIT today… The second largest inflow since January. I remember when people said there was no demand“, commented Nate Geraci, president of ETF Store, on X.

Overall, spot Bitcoin ETFs garnered more than 3 billion dollars in net inflows last week — their second best weekly performance since launch. A key data point in the recent BTC rebound above 94,000 dollars, while retail investor interest remains moderate.

Moreover, the massive influx of institutional capital, notably via BlackRock’s IBIT Bitcoin ETF, could accelerate BTC’s bullish momentum. According to several analysts including Peter Chung, this structural support could drive bitcoin up to 210,000 dollars by the end of 2025, fueled by supply scarcity and growing adoption by large investors.

With record investments and growing institutional support, BlackRock is imposing a new dynamic on the bitcoin market. If this trend continues, BTC could reach historic highs! Meanwhile, IBIT could well become the number 1 global asset within the next 10 years, according to Michael Saylor.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.