BlackRock (BLK) continued to accumulate more Bitcoin (BTC) and Ethereum (ETH) on April 22, signaling renewed institutional demand.
BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) recorded a combined net cash inflow of $300.45 million on Wednesday, according to data from Farside Investors analyzed by Finbold on April 23. The IBIT fund attracted $246.86 million in inflows, adding 3,128 BTC to its holdings during the day.
As such, the IBIT fund has seen 11 consecutive days of cash inflows totaling approximately $1.89 billion, bringing net assets to about $65.17 billion at press time. Meanwhile, BlackRock’s ETHA purchased 22,348 ETH for around $53.59 million during the day, thereby increasing the fund’s holdings to roughly $12 billion at reporting time.
Consequently, ETHA has reported 7 consecutive days of inflows amounting to $269.95 million. The notable cash inflows into BlackRock’s IBIT and ETHA could mark the end of the crypto winter, driven by renewed interest from institutional investors. However, BlackRock’s investors have remained conservative in their purchases of Bitcoin and Ethereum over the past two quarters compared with the first half of 2025.
Why are BlackRock investors loading up on Bitcoin and Ethereum?
BlackRock investors have renewed their demand for Bitcoin and Ethereum in the recent past, potentially due to the expected bull market in the near future. Although the wider crypto market has been trapped in a macro bear market year-to-date (YTD), investors could be eyeing a reversal before the end of 2026, as Finbold previously reported.
Furthermore, the crypto regulatory landscape in the United States has significantly improved under the Trump administration. Additionally, the Clarity Act, a proposed U.S. federal law to legalize cryptocurrencies, could pass in 2026, as Finbold highlighted.
