BlackRock’s $780 million crypto buy signals institutional rebound despite paper losses

Investors are adding to losing crypto positions at scale, not fleeing them. Last week, BlackRock poured $780 million into Bitcoin and Ethereum through its iShares spot ETFs, a move that signals institutional confidence is rebounding even as prices remain below prior peaks. The iShares Bitcoin Trust (IBIT) alone pulled in $612 million — a 3,636% surge from the $16.38 million in net inflows the week before. That same period saw $186 million flow into the iShares Ethereum Trust (ETHA), flipping nearly $64 million in prior outflows. BlackRock’s total crypto holdings now sit at $62.46 billion, keeping it ahead of all other spot crypto ETF issuers. That figure is still less than half the $110 billion peak reached in late 2025, though the drop stems from lower market prices, not widespread selling. Many IBIT investors are underwater: Arkham estimates the average Bitcoin acquisition cost at $89,000, compared to today’s price near $71,000. Yet the inflows show institutions aren’t retreating — they’re averaging down. The message is clear: the appetite for Bitcoin as a strategic holding remains intact.