tl;dr
BlackRock, a leading asset manager, has halted Bitcoin ETF outflows by purchasing $38.9 million worth of Bitcoin, preventing a third consecutive day of outflows. This move follows BlackRock's offloading of $1.252 billion in Bitcoin over the past seven days. Analysts see this as a positive shift in t...
BlackRock, a leading asset manager, has halted Bitcoin ETF outflows by purchasing $38.9 million worth of Bitcoin, preventing a third consecutive day of outflows. This move follows BlackRock's offloading of $1.252 billion in Bitcoin over the past seven days. Analysts see this as a positive shift in the ETF market amid recent concerns. CEO Larry Fink's 2025 market outlook suggests potential turbulence, advising investors to buy into digital assets like Bitcoin during significant price dips.
According to Farside Investors' data, BlackRock’s IBIT recorded $38.9 million in Bitcoin inflows, which prevented the ETF market from experiencing a third consecutive day of cumulative outflows. Aside from BlackRock, all other asset managers recorded zero flows on March 5 except Bitwise and Invesco. The duo recorded outflows of $6.9 million and $9.9 million, respectively, leaving a cumulative inflow of $22.1 million.
For BlackRock, the purchase comes after offloading a staggering $1.252 billion worth of Bitcoin in the last seven days of trading. Analysts say this marks a welcome shift on the ETF market, which might stem from the recent trend of outflows, becoming a concern to institutional investors.
Some market watchers opine that the recent outflow trend could have been due to broader financial market uncertainties. Interestingly, Larry Fink, CEO of BlackRock, predicted that the year 2025 would experience turbulence even though a boom is likely. Fink advised investors into digital assets like Bitcoin to buy a "big dip" if they notice one.