BlackRock scooped up over $120 million of this cryptocurrency in a week
BlackRock accumulated more than $120 million worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT) over the latest trading week. Data from spot Bitcoin ETF flows show the world’s largest asset manager recorded net inflows of approximately $120.6 million between September 14 and September 18. The fund attracted $134.3 million on September 14, suffered outflows on September 15 and 16, then rebounded with inflows of $183.7 million and $108.4 million during the final two sessions of the week. Bitcoin spot ETF ouflow/inflow. Source: CoinGlass The weekly inflow came as the leading cryptocurrency reclaimed the $80,000 level after a turbulent period marked by rising Treasury yields, inflation concerns, and a Federal Reserve rate hike. Bitcoin traded above $80,500 on September 18, extending a recovery that followed heavy ETF redemptions earlier in the week. ETF market swings While BlackRock emerged as a net buyer, the broader spot Bitcoin ETF ma...