BlackRock scooped up over $300 million of this crypto in a week
BlackRock, the world’s largest investment firm, accelerated its cryptocurrency buying spree this week, splashing over $300 million on Bitcoin (BTC). Data from October 20–24 show that the firm’s Bitcoin ETF, IBIT, attracted $324.3 million in net inflows, signaling strong institutional appetite for the leading cryptocurrency despite recent market volatility. According to Coinglass data, BlackRock’s inflows fluctuated but maintained a dominant upward trend. The week began with a net outflow of $100.7 million on October 20, coinciding with mild weakness in Bitcoin’s price. However, investor sentiment quickly reversed as inflows surged to $210.9 million on October 21, marking a strong rebound that set the tone for the rest of the week. Momentum continued with $73.6 million added on October 22 and a further $107.8 million on October 23, reflecting renewed institutional accumulation. By October 24, inflows slowed to a more modest $32.7 million. Bitcoin ET...