BlackRock scoops up 11,500 BTC during dip as ETF leads the pack

The purchase by BlackRock effectively represents about 13 days' worth of Bitcoin production being absorbed by a single player.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

BlackRock has reportedly bought a staggering 11,500 Bitcoin from the available supply during the latest dip since the launch of its spot Bitcoin ETF.

This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock effectively represents about 13 days’ worth of Bitcoin production being absorbed by a single player.

BlackRock iBIT Bitcoin and Cash