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.
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%.
