BlackRock acquired $138.9 million worth of Bitcoin, marking its first purchase of the week and ending a prolonged selling streak in the spot Bitcoin ETF market. The transaction was detected by onchain analytics and coincided with BTC reclaiming the $65,000 level, driven by renewed institutional demand. Combined Bitcoin ETF inflows for the session reached $181 million, with BlackRock’s purchase representing a dominant share, reaffirming the firm’s leadership in the crypto investment product space.
While Bitcoin ETFs rebounded, XRP-focused ETFs showed signs of stagnation. The move comes amid a broader strategic update from BlackRock’s CFO Martin Small. During the Q2 earnings call, Small outlined a vision for converging traditional finance and crypto, emphasizing that the firm wants its products “accessible natively” through digital wallets. Despite a 40% year-on-year decline in digital assets under management to $49 billion, BlackRock maintains a $500‑million revenue target for its crypto-related businesses by 2030.
Small detailed plans to tokenize Treasury funds, iShares ETFs, and private market assets, with two tokenized money market fund filings already submitted to the SEC. These products would let investors subscribe and redeem using stablecoins across multiple blockchains. He also highlighted BlackRock’s role as reserve manager for Circle’s USDC, handling $60 billion—roughly a quarter of the $300 billion stablecoin market—and expressed the ambition to become “the stablecoin reserve manager of choice.” The Depository Trust & Clearing Corp. (DTCC) is simultaneously conducting initial production trades of tokenized stocks and Treasurys, reinforcing the broader industry shift toward tokenization that BlackRock is actively pursuing.
