- •IBIT ETF purchased 3,510 BTC worth $426.2M in one day
- •BlackRock now manages over 800,000 BTC
- •Massive inflows signal growing institutional demand
BlackRock’s Bitcoin Bet Grows with Massive BTC Purchase
On October 8, BlackRock’s IBIT ETF made another bold move by purchasing 3,510 BTC, valued at approximately $426.2 million, according to public filings and blockchain data. This brings the total BTC holdings under management by BlackRock’s flagship Bitcoin ETF to over 800,000 BTC—a staggering number that cements the fund’s position as one of the largest Bitcoin holders in the world.
This aggressive accumulation is sending a clear message: institutional demand for Bitcoin is not just alive—it’s accelerating.
Institutional Demand Surges for Bitcoin Exposure
The BlackRock Bitcoin ETF continues to see strong inflows, with its buying activity far outpacing many of its competitors. This level of daily acquisition is a bullish indicator, especially in the current macro environment where investors are increasingly seeking alternatives to traditional assets.
BlackRock’s deepening commitment to BTC showcases growing confidence in Bitcoin as a long‑term store of value and hedge against inflation, currency debasement, and geopolitical instability.
With over $426 M added in a single day, the firm is clearly not waiting for dips—it’s buying strength, a move that may push other institutional players off the sidelines.
What This Means for the Market
The fund’s growing share of Bitcoin supply tightens overall market liquidity and could contribute to upward price pressure. As BlackRock edges closer to managing 5% of Bitcoin’s total supply, retail and institutional traders alike are beginning to recognize the long‑term supply squeeze in play.
Combined with positive macro signals—such as potential Fed rate cuts in 2025 and increasing acceptance of crypto ETFs—this kind of accumulation supports the narrative that Bitcoin is heading into a new phase of institutional‑led growth.