BlackRock spent over $900 million on Bitcoin in just five days, according to data published Wednesday by on-chain analytics firm Arkham Intelligence. The operation represents more than 90% of the total capital that entered the Bitcoin ETF market during that week, and strengthens BlackRock’s position as the largest Bitcoin fund globally.
The purchase is the result of institutional capital returning to the Bitcoin market, following weeks of elevated volatility during which BlackRock had reduced its positions. It marks a 180-degree shift from the strategy the firm had been implementing.
However, it did not take long for the first warnings to emerge about a potential supply shock in Bitcoin. Other major institutional holders, such as Strategy and Metaplanet, are also steadily increasing their positions. As a result, the amount of Bitcoin available on exchanges dropped to approximately 2.6 million units, a level that reflects demand continuing to outpace circulating supply in secondary markets.
Source: https://x.com/arkham/status/2046820711130673409
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