Nobody’s Buying Bitcoin Harder Than BlackRock with $1 Billion Inflows in the Last 4 Days

BlackRock’s IBIT Exchange Traded Fund (ETF) has maintained its top spot in the Bitcoin institutional investing pecking order, posting $1 billion in inflows in the last 4 days alone. Its strong showing has eclipsed any other institutional investment giant and looks set to continue. 

On-chain intelligence firm Arkham tweeted regarding the development:

Image Source: X

The largest asset manager in the world now holds a massive 786,360 BTC worth more than $67 billion, with BTC currently hovering around $85k at press time. Other ETFs like Fidelity ($14 billion), Grayscale ($10 billion), and Bitwise ($3 billion) are lagging as IBIT maintains its stranglehold of the number one position. 

BlackRock’s flagship crypto ETF has seen huge inflows in the last month or so as Bitcoin has experienced a healthy 33% recovery, backed by strong institutional support. IBIT’s $1 billion in the last 4 working days is the highest in over a year, with other ETFs also experiencing strong inflows, albeit at a smaller scale than IBIT’s. 

Investors Want Long-term BTC Exposure Through IBIT

Market observers believe that IBIT’s dominance at the top of the crypto ETFs charts shows that seasoned investors belonging to the major asset manager are interested in long-term exposure to the premier digital currency. ETFs of other cryptocurrencies like ETH, SOL, XRP, etc. have failed to garner enough traction, and they remain on the fringe.