There’s currently little movement in the crypto market. Since the correction triggered by the trade tariffs, Bitcoin has been recovering, but the bullish momentum needed to trigger a full-blown rally is lacking. However, this momentum could now come from institutional investors. It’s currently apparent that financial giant BlackRock is once again buying Bitcoin on behalf of its clients. While many market participants are still uncertain, BlackRock is apparently expecting a rally.
BlackRock Buys Another $30 Million in Bitcoin
Until a few years ago, it was primarily private investors who drove the Bitcoin price. In the stock market, however, it is primarily institutional investors who steer prices, as they bring large amounts of capital into or out of the market. Since the Spot Bitcoin ETFs were approved in January 2024, institutional investors have also been playing an increasingly large role in Bitcoin. And these investors are apparently currently buying again.
BlackRock is the issuer of the world’s largest spot Bitcoin ETF, which currently manages nearly $50 billion in assets. Because the fund is physically backed, the company buys Bitcoin whenever clients buy shares in the fund. This is currently happening again. Capital inflows in the millions have been occurring for days, with over $30 million invested yesterday alone.
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