BlackRock scooped up almost $250 billion of this crypto in 2 days

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Amid the short-term surge in Bitcoin (BTC) prices, BlackRock, the world’s largest investment firm, has increased its exposure to the asset with nearly $250 million accumulated within 48 hours.

The firm’s iShares Bitcoin Trust recorded net inflows of $34.7 million on April 13, followed by a much larger $213.8 million on April 14, totaling approximately $248.5 million over two days.

At the same time, the inflows came as the broader U.S. spot Bitcoin ETF market showed a notable shift over the same period. 

On April 13, the sector experienced significant net outflows of $291 million, driven by heavy redemptions across several funds. However, sentiment reversed the following day, with total net inflows rebounding to $411.4 million as multiple issuers posted strong gains.

Bitcoin net spot Bitcoin ETF inflow. Source: Coinglass

This turnaround was supported by widespread inflows across key ETFs, including those managed by Fidelity Investments and ARK Invest, alongside BlackRock’s dominant contribution at a time when Bitcoin is aiming to reclaim the $75,000 level.

Broader crypto ETF turns positive 

The broader picture for the week remained positive overall, with U.S. spot Bitcoin ETFs logging roughly $871 million in net inflows for the prior full week, the strongest weekly total since February, pushing year-to-date flows back into positive territory near $2 billion. 

Ethereum products also showed resilience, with weekly inflows of around $187 million, marking a reversal from recent outflows.

Meanwhile, Wall Street’s deepening involvement in the cryptocurrency market has added fresh momentum to the products. 

Specifically, Morgan Stanley’s Bitcoin Trust (MSBT), which launched on April 8 as the first spot Bitcoin ETF from a major U.S. bank, has continued drawing steady interest, supported by its low 0.14% expense ratio.

Additionally, in a notable development on Tuesday, Goldman Sachs filed with the SEC for its first Bitcoin-related ETF, a Bitcoin Premium Income ETF. 

The actively managed product seeks to provide spot Bitcoin exposure while generating additional yield through options strategies. 

Analysts anticipate a potential launch in the coming months, signaling further innovation in income-focused crypto products.

By press time, Bitcoin was trading at $74,082, having recorded a modest drop of nearly 1% in the past 24 hours, while on the weekly timeframe, BTC remains up 1.3%.

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