BlackRock’s IBIT Bitcoin ETF has seen more than $1B in purchases so far this week, just three days into the new week. The institution’s labeled addresses acquired just under 5,000 BTC from Coinbase Prime in the period, which has since been transferred to eleven different addresses managing the BTC held under BlackRock’s custody.
The purchases bring IBIT’s total BTC balance to 496,854.08 or just over $48.8B worth. These inflows also show a resurgence in BTC ETF inflows after a slowdown the week earlier leading up to Thanksgiving Day where the BTC ETFs saw a cumulative outflow, primarily led by Grayscale’s GBTC and Bitwise’s BITB. IBIT also continues to be the largest contributor to BTC ETF inflows, having made up more than $32.7B in inflows since inception.
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