BlackRock has accumulated nearly $1 billion in cryptocurrency over the past week, as Bitcoin prices rose, primarily driven by significant inflows into Bitcoin (Bitcoin) and Ethereum (Ethereum) spot exchange-traded funds (ETFs).
The majority of buying pressure came from BlackRock’s iShares Bitcoin Trust, which recorded approximately $732.6 million in net inflows over five trading days.
Demand was particularly strong this week, with April 22 and April 20 being the largest accumulation days, attracting approximately $246.9 million and $256 million, respectively.
On April 23, the inflow momentum remained strong, with $167.5 million in new funds, although inflows cooled toward the end of this period, with only $22.9 million flowing in on April 24.
Despite minor outflows from some competing funds, the overall trend reflects continued institutional demand for Bitcoin investments.
BlackRock Ethereum fund inflows
Ethereum also received continued funding, albeit on a smaller scale. During the same period, BlackRock’s Ethereum ETF attracted approximately $199 million in net inflows.
April 20 was the day with the strongest inflow, with total inflows reaching approximately $89.3 million, and April 21 also showed solid performance with additional inflows of $52.5 million.
On April 22, net inflows reached $53.6 million, continuing the previous upward trend. However, this trend was interrupted on April 23, when the fund recorded net outflows of approximately $21 million, before rebounding on April 24 with net inflows of $24.6 million.
In total, this is the world's largest asset. Investment managers purchased approximately $931.6 million worth of cryptocurrency during the workweek.
Overall, as the cryptocurrency market recovers, institutional investors continued to pour funds into U.S. spot cryptocurrency ETFs this month.
Bitcoin funds posted their strongest performance since 2026, while Ethereum products continued to attract inflows.
As of April 23, spot Bitcoin ETFs have seen eight consecutive days of net inflows, with approximately $2.1 billion in net new funds.
This [surge] pushed April's inflows to approximately $2.4 billion, nearly double the total for March, and turned year-to-date inflows positive.