BlackRock Purchases $250 Million of Bitcoin via iShares Trust

BlackRock, the world’s largest asset manager, bought roughly $250 million worth of Bitcoin over a two‑day period, reversing a near‑two‑week selling streak. The purchases were made through its iShares Bitcoin Trust (IBIT), moving the crypto from Coinbase Prime into the ETF’s custody wallets in batches of about 300 BTC (around $19 million each). The activity reflects investor‐driven ETF flows rather than direct corporate buying.

The influx of buying helped pause recent selling pressure on Bitcoin, which had fallen below $60,000 before climbing back to around $64,000 in early July. Analysts view the move as a potential signal of a market bottom, though volatility remains amid broader economic concerns such as U.S. inflation, unchanged Federal Reserve rates, and geopolitical tensions.

The purchase underscores growing institutional interest in cryptocurrency and may encourage other large investors to follow BlackRock’s example.