Top Bitcoin Exchange-Traded Fund (ETF) issuer BlackRock made major purchases last week worth around $612 million, out of a total net inflow of $786 million across these funds,datafrom Arkham Intelligence show. The company’s IBIT Bitcoin trust is looking to maintain its status as the world’s largest Bitcoin ETF despite the recent spot market troubles.
Bitcoin is currently trading around $71.5k, showing a 1% price appreciation over the last 24 hours. BlackRock’s recent Bitcoin buying spree has shown sustained institutional interest in the premier cryptocurrency, led by IBIT. Smaller ETFs like Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares’ ARKB contributed modest positive flows, while Grayscale’s GBTC and several others posted neutral or negligible activity. No major outflows offset the buying, marking a broad-based rebound from earlier April volatility.
BlackRock Investors Unfazed by Unrealized Losses
Despite the inflows, BlackRock IBIT holders sit on an estimated $12 billion in overall unrealized losses. Based on Arkham’s on-chain analytics, their average cost basis is near $89,000 per Bitcoin—well above current spot prices. The ETF now holds approximately 790,808 BTC, valued at roughly $56.5 billion, more than any other institutional player on the face of the Earth, including Michael Saylor’s Strategy with 780,897 Bitcoin worth $55.7 billion.
However, the double-digit losses aren’t deterring investors from getting into Bitcoin, which has shown extraordinary resilience amid the US-led war on Iran, a conflict showing no signs of an off-ramp despite recent negotiations in Islamabad.
Here is the IBIT ETF flow ever since its launch:



 
Based on this graph, it is evident that outflows are gradually declining throughout March-April, while inflows are steadily gaining ground.
This is quite a contrast from much of the market activity since October 2025, when the market was dominated by strong outflows and weakening inflows. The BTC spot price has also stabilized/posted moderate gains during this time, emboldening the sustained buying activity.
The Future
Market analysts will closely track the new week’s flows. If BlackRock is able to sustain its buying activity, it could signal deepening institutional conviction and provide a reliable floor for Bitcoin prices, at least in the short term.
For now, IBIT’s dominance underscores BlackRock’s continued role as the category’s heavyweight buyer—even when paper losses remain sizeable and out there for everybody to see.
Top Bitcoin Exchange-Traded Fund (ETF) issuer BlackRock made major purchases last week worth around $612 million, out of a total net inflow of $786 million across these funds,datafrom Arkham Intelligence show. The company’s IBIT Bitcoin trust is looking to maintain its status as the world’s largest Bitcoin ETF despite the recent spot market troubles.
Bitcoin is currently trading around $71.5k, showing a 1% price appreciation over the last 24 hours. BlackRock’s recent Bitcoin buying spree has shown sustained institutional interest in the premier cryptocurrency, led by IBIT. Smaller ETFs like Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares’ ARKB contributed modest positive flows, while Grayscale’s GBTC and several others posted neutral or negligible activity. No major outflows offset the buying, marking a broad-based rebound from earlier April volatility.
BlackRock Investors Unfazed by Unrealized Losses
Despite the inflows, BlackRock IBIT holders sit on an estimated $12 billion in overall unrealized losses. Based on Arkham’s on-chain analytics, their average cost basis is near $89,000 per Bitcoin—well above current spot prices. The ETF now holds approximately 790,808 BTC, valued at roughly $56.5 billion, more than any other institutional player on the face of the Earth, including Michael Saylor’s Strategy with 780,897 Bitcoin worth $55.7 billion.
However, the double-digit losses aren’t deterring investors from getting into Bitcoin, which has shown extraordinary resilience amid the US-led war on Iran, a conflict showing no signs of an off-ramp despite recent negotiations in Islamabad.
Here is the IBIT ETF flow ever since its launch:



 Based on this graph, it is evident that outflows are gradually declining throughout March-April, while inflows are steadily gaining ground.
This is quite a contrast from much of the market activity since October 2025, when the market was dominated by strong outflows and weakening inflows. The BTC spot price has also stabilized/posted moderate gains during this time, emboldening the sustained buying activity.
The Future
Market analysts will closely track the new week’s flows. If BlackRock is able to sustain its buying activity, it could signal deepening institutional conviction and provide a reliable floor for Bitcoin prices, at least in the short term.
For now, IBIT’s dominance underscores BlackRock’s continued role as the category’s heavyweight buyer—even when paper losses remain sizeable and out there for everybody to see.
