BlackRock Goes Full Crypto Whale—Drops $1B on Bitcoin
Wall Street’s sleeping giant just woke up hungry. BlackRock—the $10 trillion asset manager that once dismissed crypto as ’niche’—just swallowed nearly $1 billion worth of Bitcoin in a single bite.
Why the sudden appetite? Institutional FOMO meets hedging against dollar decay. Meanwhile, gold bugs sob into their safe-deposit boxes.
Bonus jab: Nothing says ’mainstream adoption’ like the same guys who brought you 2008’s collateralized debt obligations now backing digital scarcity.
Institutional Demand Fuels Bitcoin Optimism as $210K Target Looms
BlackRock’s dominance in the ETF space is growing too. IBIT now manages over $54 billion in Bitcoin, securing more than 50% of the U.S. spot Bitcoin ETF market share, based on Dune Analytics.
Market observers believe this kind of institutional accumulation is providing Bitcoin with “structural support” not seen in previous cycles. Bitget’s chief analyst Ryan Lee emphasized that retail activity remains muted, meaning the price rally above $94,000 has been mostly fueled by large players.
