In the latest crypto update, asset management giant BlackRock has continued to strengthen its Bitcoin position, with its iShares Bitcoin Trust (IBIT) acquiring another 5,073.95 BTC worth $327 million over the past 24 hours.
According to blockchain analytics platform Onchain Lens, BlackRock withdrew the Bitcoin from Coinbase Prime through multiple transactions, with most transfers consisting of 300 BTC each. The latest purchases further reinforce BlackRock’s position as the largest holder among U.S. spot Bitcoin ETF issuers.
Following the latest accumulation, wallets linked to BlackRock’s IBIT now hold 742,128 BTC, highlighting the firm’s ongoing commitment to expanding its Bitcoin reserves amid sustained institutional demand.
Bitcoin ETF Inflows Stay Positive
Meanwhile, BlackRock’s latest on-chain accumulation coincided with another day of positive capital flows into the U.S. spot Bitcoin ETF market.
Data from Farside shows the sector recorded net inflows of $244.4 million during the latest trading session. Once again, BlackRock led the market, attracting $196.8 million in fresh investments.
Other ETF issuers also posted gains. Ark Invest brought in $37.6 million, followed by Fidelity with $11.3 million, Bitwise with $10.6 million, and Morgan Stanley with $2.8 million. In contrast, VanEck was the only issuer to record outflows, losing $14.7 million, while the remaining funds reported no net flows.
New Whale Wallet Buys $35 Million in Bitcoin
In a separate development, Onchain Lens identified a newly created wallet that accumulated 540.17 BTC worth approximately $34.9 million.
The wallet received the Bitcoin from digital asset custodian BitGo roughly three hours before the report, suggesting another significant acquisition by an institutional investor or high-net-worth entity.
Although the wallet owner’s identity remains unknown, the transaction adds to the growing number of large Bitcoin purchases recorded on-chain in recent days.
Bitcoin Holds Above $64,000
Meanwhile, Bitcoin has remained resilient amid the latest wave of institutional buying. At the time of writing, the leading cryptocurrency is trading near $64,192, posting modest gains over the past 24 hours as buyers continue to defend support above the $64,000 level despite intermittent profit-taking.
Overall, the combination of steady ETF inflows, BlackRock’s continued accumulation, and another major whale purchase signals that institutional demand for Bitcoin remains robust, even as the market consolidates around current price levels.
Evans Kelvin
