BlackRock has added more than $900 million worth of Bitcoin over five days, according to data cited by Arkham Intelligence.
Summary
- BlackRock purchased over $900 million in Bitcoin across five days as ETF demand accelerated sharply.
- The asset manager accounted for more than 90% of weekly Bitcoin ETF market inflows.
- Falling exchange Bitcoin reserves continued to fuel supply shock concerns as institutional accumulation gained pace.
The purchases came as demand for Bitcoin investment products increased across the market. The buying activity made BlackRock the largest contributor to weekly inflows in the Bitcoin ETF segment. The firm accounted for more than 90% of the total capital that entered the broader Bitcoin ETF market during the period.
Meanwhile, the fresh purchases strengthened BlackRock’s position as the largest Bitcoin fund manager globally. The move also showed that institutional demand for Bitcoin remained active despite recent market volatility.
The latest buying followed a period when large firms reduced holdings during price swings. The new accumulation suggested that BlackRock had returned to steady purchases as market sentiment improved.
The recent buying wave also added to pressure on Bitcoin supply across exchanges. Large holders, including Strategy and Metaplanet, have continued to increase their exposure to the asset.
As these firms keep buying, the amount of Bitcoin available on exchanges has continued to decline. The report said about 2.6 million Bitcoin remained on exchanges at the time of writing, while demand kept rising.
Market watches supply shock risk
The drop in exchange balances has raised fresh discussion around a possible supply squeeze in Bitcoin. Traders and analysts have pointed to the gap between rising institutional demand and limited available supply.
BlackRock’s latest purchase added to that debate as the firm expanded its holdings during a stronger market period. The development also supported broader interest in Bitcoin as institutional investors increased activity again.
