BlackRock Buys $900M in Bitcoin as Institutional Demand Accelerates

CoinDesk reported that BlackRock has purchased more than $900 million worth of bitcoin over the past five days, marking what appears to be its largest single-week accumulation of the year and accounting for over 90% of this week's total inflows into the broader bitcoin ETF market. Arkham Intelligence disclosed details of the transactions on Wednesday, April 22. The buying spree reinforces BlackRock's position as the world's largest bitcoin fund and has fueled speculation across crypto markets that tightening supply could support another leg higher in prices. The surge in demand is not limited to BlackRock. Other major holders, including MicroStrategy and Metaplanet, have also been increasing exposure. Large-scale purchases by institutions and whales have helped drain exchange balances, adding to supply-shock concerns. At press time, roughly 2.6 million bitcoins were held on exchanges, with demand for the largest cryptocurrency continuing to outpace available supply.