BlackRock, the issuer of the IBIT Bitcoin ETF, has acquired more than $680 million in Bitcoin within the last two days. This surge in purchases aligns with the rising price of IBIT, one of the most successful ETFs in the market.
BlackRock’s Massive Bitcoin Purchases
Recent data reveals that BlackRock executed two major Bitcoin purchases:
- October 15: Bought $294 million worth of BTC.
- October 16: Followed up with an even larger purchase of $390 million in BTC.
The firm’s enthusiasm for Bitcoin is evident, given the success of its IBIT Bitcoin ETF, which has amassed over $25 billion in assets under management (AUM)**. Analysts have hailed IBIT as a top-performing ETF this decade, with inflows exceeding **$1 billion this week alone.
Leadership’s Bitcoin Endorsement
BlackRock’s executives have publicly endorsed Bitcoin:
- Jay Jacobs (US Head of Thematics and Active ETFs) predicted a $30 trillion BTC market in the future.
- CEO Larry Fink called Bitcoin an "independent asset class", signaling its long-term role in the firm’s strategy.
"We will continue to pioneer new products to make investing easier and more affordable."
— Larry Fink, BlackRock CEO
👉 Why Bitcoin ETFs Are Gaining Massive Popularity
IBIT’s Dominance in Bitcoin ETF Inflows
On Thursday, IBIT recorded $309 million in inflows**, the highest among all spot Bitcoin ETFs. Weekly inflows reached **$1.07 billion, further solidifying its market leadership.
How BlackRock’s Strategy Impacts Bitcoin Demand
Since IBIT is a spot ETF, BlackRock must hold actual Bitcoin to back its shares. This requirement drives sustained BTC accumulation, positioning BlackRock alongside major holders like Binance.
FAQs About BlackRock’s Bitcoin Purchases
1. Why is BlackRock buying so much Bitcoin?
BlackRock’s IBIT ETF requires physical BTC reserves to meet investor demand. As inflows grow, so does their BTC holdings.
2. How does IBIT compare to other Bitcoin ETFs?
IBIT leads in AUM ($25B+)** and weekly inflows (**$1B+), outperforming competitors.
3. What does Larry Fink’s statement mean for Bitcoin?
Fink’s recognition of Bitcoin as an "independent asset class" signals institutional validation and long-term growth potential.
👉 The Future of Bitcoin ETFs: What Investors Should Know
Disclaimer: This content is for informational purposes only. Readers should conduct independent research and consult financial advisors before making investment decisions.