#binance #hype #zec #near
22/04/26 15:14 UTC-04

The largest investment company BlackRock purchased $906 million worth of Bitcoin

The world’s largest asset management company BlackRock acquired approximately $906 million worth of Bitcoin over the past week. The purchases were made through wallets associated with the iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), according to analysts at Arkham Intelligence.

In recent days, several large transfers were sent to addresses linked to IBIT, including 13 transfers of 300 BTC each, worth approximately $23 million per transfer. According to blockchain analysts, BlackRock’s weekly purchases accounted for the majority of total inflows into U.S. spot Bitcoin ETFs: $996.4 million flowed into them over seven days. This is the highest level since mid-January, according to data from the platform SoSoValue.

As of now, IBIT holds 802,523 BTC with a total value exceeding $62 billion. This represents approximately 3.8% of the total circulating Bitcoin supply. The market capitalization of BlackRock’s fund exceeds $159.2 billion.

The previous Bitcoin purchase by the investment company took place in January, when the fund acquired approximately 9,619 BTC worth $878 million.

IBIT was launched in January 2024, immediately after the approval by the U.S. Securities and Exchange Commission (SEC) of the first spot Bitcoin ETFs. The fund reached $10 billion in assets within the first seven weeks of trading and surpassed $80 billion in less than a year. Total net inflows into IBIT have exceeded $64.9 billion.

BlackRock made this major purchase of the leading cryptocurrency amid a deal by another major Bitcoin holder — MicroStrategy acquired 34,164 BTC worth approximately $2.54 billion. This largest purchase over the past year increased Strategy’s corporate reserves to 815,061 BTC.

See also: "The U.S. arm of the crypto exchange Binance.US has significantly reduced its spot trading fees in an effort to expand its user base and improve competitiveness."

#Buy #BlackRock #Bitcoin (BTC)

Editor: Alyona Nabok
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