BlackRock, the world's largest asset manager, has just acquired more Bitcoin

According to a report from Arkham Intelligence, BlackRock received $145,00,00 in BTC on March 21st, adding significant weight to its Bitcoin reserves.

World's largest asset manager, BlackRock (NYSE:BLK), has acquired more Bitcoin, according to Arkham Intelligence.

What Happened: According to Arkham, BlackRock received 145,000,000 in BTC on March 21st, adding significant weight to its Bitcoin reserves.

The asset manager has been making major moves in the cryptocurrency space, especially with Bitcoin exchange-traded funds.

BlackRock’s iShares Bitcoin Trust (IBIT) has quickly become the fastest-growing Bitcoin ETF in history. Launched in January 2024, IBIT surpassed $50 billion in assets under management (AUM) within its first year.

This positions BlackRock as the dominant player in the Bitcoin ETF market, consistently accounting for over 50% of daily trading volume among U.S. Bitcoin ETFs.

"With over $50 billion in AUM, iShares Bitcoin Trust has become the fastest-growing ETF in history and is now the dominant player in the U.S. Bitcoin ETF market, consistently handling over 50% of daily trading volume among U.S. Bitcoin ETFs," the report reads.

Why It's Important: February and most of March weren't as kind to the Bitcoin ETF industry. Whereas we may have grown accustomed to seeing Spot Bitcoin Funds registering inflows month after month, the growth came at a sudden pause in February, as net outflows dominated the market.

In that period, the collective of Bitcoin ETFs registered 35x times more outflows than inflows, causing over $4 billion to leave the funds. IBIT was also affected by that trend, being unable to register inflows larger than $100 million in a day from February 4th until recently.

IBIT would finally reverse that trend on March 18, when it added $218 million in BTC to its fund. On March 20th the ETF saw another $175 million in inflows, and today's $145 million adds another layer of momentum to the recovery of Bitcoin ETFs.

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