The post BlackRock’s IBIT Makes First Bitcoin Purchase in 7 Days appeared on BitcoinEthereumNews.com.

After a six-day streak of outflows and one of zero flow, BlackRock, the leading asset manager, has halted the bleeding on the Bitcoin ETF market. In a move expected of BlackRock, it made a significant comeback by purchasing Bitcoin and keeping the exchange-traded fund (ETF) market in the green. BlackRock’s market influence amid ETF outflows 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. Related For BlackRock, the purchase comes after offloading a staggering $1.252 billion worth of Bitcoin in the last seven days of trading. The asset manager offloaded Bitcoin in the hundreds of millions for five consecutive days, the highest being $418.1 million. The lowest outflow within seven days was $78 million, before registering zero outflow. Analysts say this marks a welcome shift on the ETF market. They argue that it might stem from the recent trend of outflows, which have become a concern to institutional investors. Larry Fink’s 2025 market outlook 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. Related Fink advised investors into digital assets like Bitcoin to buy a “big dip” if they notice one. This advice implies that Fink expects a significant price rally in the value of Bitcoin and top assets. As of this writing, the Bitcoin price was changing hands for $91,278.22, a 1.08% increase in the last 24…

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Filed under: News - @ March 6, 2025 5:30 pm