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▲ Bitcoin (BTC) Exchange Traded Fund (ETF) ©Coinreaders
BlackRock is demonstrating unwavering confidence in the market's explosive rally by scooping up over $500 million worth of Bitcoin (BTC) in just two days, despite a price inversion phenomenon where the current price is a staggering 17% lower than its clients' average purchase price. This aggressive accumulation by a giant institution is not only focused on the leading cryptocurrency but is also spreading to major altcoin spot ETF products like XRP (Ripple) and Ethereum (ETH), driving a structural bull run across the entire virtual asset market.
According to the investment media TradingNews on April 16 (local time), BlackRock's iShares Bitcoin Trust product absorbed a total of $505.7 million in funds over two days on April 14 and 15, marking the largest two-day consecutive inflow in April. According to Arkham data, the average entry price for BlackRock's clients is currently around $89,000. Despite the current price hovering between $74,000 and $75,000, which is 17% lower, BlackRock is demonstrating formidable accumulation power, increasing its total holdings to $59.31 billion, based on CEO Larry Fink's philosophy of buying the dip.
This fierce institutional buying spree is heating up the entire U.S. Bitcoin spot ETF market. On the 15th alone, a net inflow of $186.1 million occurred, showing strong inflows for two consecutive days. According to SoSoValue statistics, the cumulative net inflow for 13 spot products reached $57.1 billion, with total net assets of $97.6 billion, penetrating the market deeply enough to account for 6.5% of Bitcoin's total market capitalization. This figure far surpasses the market penetration rate of other alternative virtual assets, which is in the 1% range, indicating a robust institutional demand base that is unwavering in the face of short-term volatility and firmly supporting the downside of the leading cryptocurrency.
The aggressive pursuit and new entries from Wall Street competitors are also accelerating. Morgan Stanley's Bitcoin spot ETF product, which drastically lowered its management fee to 0.14%, attracted $103 million in just six trading days since its launch, instantly surpassing competitors' two-year cumulative records. Furthermore, even Goldman Sachs, considered the last major stronghold on Wall Street, has applied to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin Premium Income ETF that generates income using a covered call strategy, igniting a full-scale battle for institutional capital.
The significant capital concentrated in Bitcoin is rapidly flowing into other assets as well. On the same day, the Ethereum spot ETF saw a net inflow of $67.85 million, and the XRP spot ETF, boosted by the positive news of Rakuten Pay's adoption, also absorbed $17.11 million, its highest in two months, demonstrating diversified institutional demand. In Polymarket, a prediction market that reflects institutional investor sentiment in real-time, the probability of Bitcoin reaching $100,000 by the end of this year jumped from 34% a week ago to 37.5%, representing a positive market sentiment.
BlackRock's overwhelming dominance, with a cumulative inflow of $64.3 billion and a 50% market share, coupled with the comprehensive entry of Wall Street giants like Goldman Sachs and Morgan Stanley, strongly suggests that the current $74,000 range represents a strategic undervalued buying opportunity. The phenomenon of massive capital pouring in, with large institutions willing to absorb short-term losses amidst uncertainty, indicates that institutions' firm long-term bets towards the $100,000 era have already been quietly and powerfully completed behind the order book.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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