BlackRock is in the middle of its biggest Bitcoin (BTC) buying spree since the cryptocurrency’s all-time high in October 2025, as institutional investors pour billions into U.S. spot Bitcoin exchange-traded funds (ETFs).
On August 24 alone, BlackRock’s iShares Bitcoin Trust (IBIT) recorded $208.9 million in net inflows, accounting for roughly 62% of the day’s total Bitcoin ETF inflows of $337.6 million.
At the same time, BlackRock’s iShares Ethereum Trust (ETHA) attracted $90.9 million, bringing the asset manager’s combined crypto ETF inflows to $299.8 million in a single session.
Bitcoin rebounds to above $80,000
The buying coincided with Bitcoin’s rally above $80,000, marking one of the strongest recoveries in the digital asset market this year. Bitcoin has gained more than 20% over the past week as institutional demand accelerated and ETF flows surged.
The latest inflows capped off BlackRock’s strongest week since Bitcoin’s record-high period in October 2025, when the cryptocurrency traded above $126,000.
During the week ending August 21, IBIT attracted approximately $1.33 billion in net inflows, with investors adding capital every trading day. U.S. spot Bitcoin ETFs collectively drew $1.92 billion, their largest weekly intake since October 2025.
Since Bitcoin’s local bottom on July 1, BlackRock has accumulated approximately $2.17 billion through IBIT, with more than half of those purchases occurring over the past week.
At the same time, data from blockchain analytics platform Arkham further highlighted the scale of BlackRock’s exposure, showing crypto holdings valued at more than $67.6 billion, including approximately 762,947 Bitcoin worth $60 billion and 3.1 million Ethereum (ETH) valued at $7.7 billion, making it one of the largest institutional holders of both assets.
The broader ETF market has also strengthened considerably. Spot Bitcoin and Ethereum ETFs attracted a combined $2.6 billion during the week ending August 21, their strongest week since October 2025. Bitcoin funds accounted for $1.92 billion, while Ethereum ETFs added $697 million.
Why crypto ETFs are rocketing
The renewed interest in ETFs has been partly driven by Bitcoin’s rally, which has been supported by growing expectations of regulatory clarity in the United States following renewed momentum behind digital asset legislation and ongoing efforts by regulators to establish clearer crypto market rules.
Macroeconomic developments have also boosted demand after the U.S. Treasury’s expanded bond buyback program weakened the dollar and reinforced Bitcoin’s appeal as a hedge against currency debasement and fiscal risks.
Analysts have cited the dollar debasement narrative as one of the primary drivers behind Bitcoin’s move above $80,000.
Meanwhile, ETF demand itself has become a major force behind the rally. Last week alone, spot Bitcoin ETFs attracted nearly $2 billion, while trading volumes more than tripled to over $22 billion.
Analysts note that sustained ETF inflows are often closely linked to Bitcoin’s price performance because fund issuers must acquire the underlying asset to create new ETF shares.
