BlackRock buys $589 million of these two cryptocurrencies this week

BlackRock (BLK) accelerated cryptocurrency acquisitions this week using its two spot exchange-traded funds (ETFs).

As of April 9, the largest fund manager, with more than $11 trillion in assets under management, accumulated $589.16 million in Bitcoin (BTC) and Ethereum (ETH) over the past four trading days. The iShares Bitcoin Trust (IBIT) recorded a net cash inflow of $474.50 million during this period, marking an increase of approximately 2,794% from the prior week’s $16.38 million, according to SoSoValue metrics.

During the last four days, investors added $114.66 million in net cash to BlackRock’s iShares Ethereum Trust (ETHA). As a result, ETHA may end its weekly bleeding after reporting total cash outflows of about $418.69 million over the past three weeks that ended on April 2.

As of reporting time, BlackRock held a total of $63.55 billion in ETHA and IBIT, making it the largest spot crypto ETF issuer.

BlackRock bets big on Bitcoin and Ethereum

BlackRock investors are now betting big on Bitcoin and Ethereum amid an ongoing crypto recovery fueled by improving geopolitical conditions. On Thursday, IBIT recorded its highest daily cash inflow of about $269.34 million since March 4, 2026, potentially signaling a renewed demand from institutional investors.

Meanwhile, the ETHA posted a net cash inflow of $90.94 million on Thursday, the highest since January 15, 2026. As such, this security fund has $6.75 billion in assets, representing 2.53% of Ethereum’s circulating supply at the time of publication.

The investment firm has strongly supported Bitcoin year-to-date (YTD) despite its notable selloff. As Finbold reported, IBIT added nearly 15,000 BTC during the first quarter of 2026, even as the Bitcoin price dropped by over 25%.