BlackRock Adds More Than 17,000 Bitcoin in a Week as Polymarket Bets on BTC Topping $75,000 in March
BlackRock’s spot Bitcoin ETF, IBIT, is a key channel for traditional capital entering crypto assets, and its flows are often viewed as an indicator of institutional demand. Continued Bitcoin accumulation by the ETF not only reduces circulating supply but may also strengthen upward price momentum and investor confidence.
At the time of the report, IBIT had recorded net inflows of more than 17,000 Bitcoin over the previous week, worth about $1.28 billion at then-current prices, helping BTC break above $73,000. Prediction market Polymarket showed that traders had raised the probability of Bitcoin exceeding $75,000 in March to 84%.
All Coverage
1 original reportsThe Backstory
The history behind this eventBlackRock Spot Bitcoin ETF IBIT Rallies 19% in Three Weeks
BlackRock’s iShares Bitcoin Trust (IBIT) is a leading U.S. spot Bitcoin ETF, giving investors exposure to Bitcoin’s price through the securities market. Its performance is often viewed as a key gauge of institutional risk appetite and demand for crypto assets.
According to the latest report, a Bloomberg analyst said IBIT had risen for three consecutive weeks, gaining a cumulative 19% since the outbreak of the conflict in Iran. Bitcoin topped $78,000 over the same period as buying momentum remained strong, while the concentrated selling pressure often seen early in recent trading sessions showed signs of easing.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.