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BlackRock Buys $388M in Bitcoin, Leading ETF Market

BlackRock, the world’s largest asset manager, made a massive Bitcoin purchase of $388.19 million this week. The hedge fund now holds 362,193 BTC, worth $23.79 billion, outpacing competitors like Grayscale.

• Main Points:

  • $388M Bitcoin purchase: BlackRock bought more Bitcoin this week than any ETF issuer has sold in the past three weeks.

  • 362,193 BTC holdings: BlackRock’s total Bitcoin holdings now exceed $23.79 billion, leading the ETF market by over 100,000 BTC compared to Grayscale.

  • Bitcoin as a scarce, non-sovereign asset: BlackRock views Bitcoin as a decentralized, risk-free asset similar to digital gold.

  • Interest in Ethereum ETFs: BlackRock also launched a spot Ethereum ETF, with growing ETH holdings despite less attention than Bitcoin ETFs.

• Detailed Insights:

  • $388M Bitcoin purchase: According to Arkham Intelligence, BlackRock’s Bitcoin purchases for its IBIT spot ETF in the last four days totaled $388.19 million, exceeding the total sales of any ETF issuer over the past three weeks.

  • 362,193 BTC holdings: With 362,193 BTC in its portfolio, BlackRock leads the cryptocurrency ETF market, holding over 100,000 more BTC than Grayscale, its closest competitor.

  • Bitcoin as a non-sovereign asset: BlackRock’s head of digital assets emphasized that the fund sees Bitcoin as a decentralized, non-sovereign asset, positioning it more like digital gold rather than a tech stock.

  • Interest in Ethereum ETFs: BlackRock’s interest extends beyond Bitcoin, as the firm recently launched a spot Ethereum ETF, slowly building its ETH portfolio despite less hype than Bitcoin.

Related: Why is Solana (SOL) Price Up Today?

BlackRock’s aggressive Bitcoin purchases signal growing institutional interest in cryptocurrency as a safe, decentralized asset, further legitimizing its place in global finance.

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U.S. Spot Bitcoin ETFs See $500 Million in Net Inflows

U.S. spot Bitcoin ETFs registered total net inflows of $494.27 million on September 27, marking a six-day streak of positive flows. Ark & 21Shares led with $203.07 million, followed by Fidelity and BlackRock, pushing cumulative net assets held by Bitcoin spot ETFs to $61.21 billion.

• Main Points:

  • $494.27 million inflows: U.S. spot Bitcoin ETFs saw nearly $500 million in inflows on September 27.

  • Ark & 21Shares lead: Ark & 21Shares’ ARKB recorded the largest inflows at $203.07 million.

  • No outflows: None of the approved Bitcoin ETFs recorded outflows, with only four ETFs reporting zero flows.

  • Bitcoin ETF assets rise: The total net assets held by Bitcoin spot ETFs now stand at $61.21 billion.

• Detailed Insights:

  • $494.27 million inflows: Spot Bitcoin ETFs saw $494.27 million, extending a positive streak that began on September 19. This brings cumulative total net inflows for Bitcoin ETFs to $18.69 billion.

  • Ark & 21Shares lead: ARKB led the inflows with $203.07 million, followed by Fidelity’s FBTC with $123.61 million and BlackRock’s IBIT with $110.82 million. ARKB’s cumulative net inflows have now reached $2.72 billion.

  • No outflows: None of the Bitcoin ETFs experienced outflows, and only four had no inflows, signaling continued investor confidence.

  • Bitcoin ETF assets rise: With a total of $61.21 billion in net assets, Bitcoin spot ETFs now account for 4.71% of Bitcoin’s market cap, reflecting their growing significance in the market.

Related: Q4 Crypto Rally Chances ‘Exceptionally High’ as Bitcoin Breaks $65K

As Bitcoin spot ETFs continue to attract inflows, investor interest remains high, driven by favorable market conditions and growing institutional participation.

'Bitcoin Bull Run Starts Monday,' NBA Legend Claims Satoshi Told Him

NBA legend Scottie Pippen tweeted that he had a dream where Bitcoin’s creator, Satoshi Nakamoto, predicted a bull run starting Monday. Pippen humorously shared the message, but his post has fueled speculation, especially after the recent release of Binance founder CZ.

• Main Points:

  • Pippen’s Satoshi dream: Scottie Pippen claims in a tweet that Satoshi Nakamoto appeared in his dream, predicting a Bitcoin bull run to begin on Monday.

  • “CZ is free” connection: Pippen linked the bull run to the release of Binance founder CZ from prison.

  • Community reaction: The crypto community is divided, with some questioning if Pippen made the post himself.

  • CZ's release sparks optimism: The release of Binance founder CZ has some believing that his return could ignite a new market rally.

• Detailed Insights:

  • Pippen’s Satoshi dream: In a lighthearted tweet, Scottie Pippen claimed that Satoshi Nakamoto visited him in a dream, holding a basketball and delivering the message that a Bitcoin bull run would start on Monday.

  • “CZ is free” connection: Pippen mentioned that Satoshi's message tied the bull run to CZ’s release from prison, following a four-month sentence for violating U.S. securities laws.

  • Community reaction: While some commenters found humor in Pippen’s post, others speculated that a crypto-focused team may be behind the tweets. Pippen had previously predicted Bitcoin would hit $84,650 in November.

  • CZ's release sparks optimism: CZ’s return has sparked optimism in the crypto market, with some analysts, like CryptoQuant founder Ki Young Yu, suggesting that even a tweet from CZ could fuel a Bitcoin rally.

Related: $8 Billion in Bitcoin Options Expire Tomorrow—What to Expect

With CZ’s release and October (“Uptober”) historically being a bullish month for crypto, many in the community are eagerly watching to see if a Bitcoin bull run is indeed on the horizon.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results