BlackRock (BLK) accelerated cryptocurrency acquisitions this week using its two spot exchange-traded funds (ETFs).
As of April 9, the largest fund manager, with more than $11 trillion in assets under management, accumulated $589.16 million in Bitcoin (BTC) and Ethereum (ETH) over the past four trading days. The iShares Bitcoin Trust (IBIT) recorded a net cash inflow of $474.50 million during this period, marking an increase of approximately 2,794% from the prior week’s $16.38 million, according to SoSoValue metrics.