As the cryptocurrency market showed signs of recovery over the past week, investment giant BlackRock significantly ramped up its exposure to digital assets, channeling more than $1 billion.
The purchases were made through the firm’s Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETF), pointing to sustained institutional demand for crypto markets.
The bulk of the inflows was directed toward Bitcoin, where BlackRock’s iShares Bitcoin Trust (IBIT) recorded approximately $906.1 million in net inflows over five trading days.
Activity accelerated toward the end of the week, with April 17 alone accounting for a $284 million inflow. Earlier sessions also showed consistent demand, with $291.9 million on April 15 and $213.8 million on April 14, highlighting strong, steady accumulation.
BlackRock Ethereum inflows
On the other hand, Ethereum exposure, while notably smaller, also showed a clear return of positive momentum. BlackRock’s Ethereum-focused products, ETHA and ETHB, together attracted about $117.2 million over the same period.
ETHA led the flows, contributing $30.8 million on April 17 and maintaining similar levels on April 16 and April 15, with $30.5 million and $31.5 million, respectively.
ETHB, though smaller in scale, added incremental inflows, including $9.8 million on April 15 and $1.2 million on multiple days. A minor combined net gain of $1.7 million on April 13 reflected mixed sentiment earlier in the week before stronger inflows resumed.
This brought the combined inflow for the two assets to about $1.02 billion for BlackRock.
ETF inflows rebound
Overall, U.S. spot crypto ETFs in Bitcoin and Ethereum reached their highest level since early January.
Crypto investment products attracted $1.1 billion in net inflows, with U.S. investors accounting for 95% of global flows. This surge helped push Bitcoin ETF year-to-date flows back into positive territory at about $2.3 billion.
The rally gained momentum from U.S.-Iran ceasefire signals and initial perceived progress toward reopening the Strait of Hormuz, easing geopolitical tensions, lowering oil prices, and boosting risk appetite.
Softer-than-expected U.S. CPI data further encouraged investors to rotate into risk assets, triggering short squeezes and upward price momentum.
Bitcoin traded in the $74,000 to $78,000 range during the period, while Ethereum showed relative strength above $2,000.
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