Blackrock Invests $351 Million in Bitcoin, Fueling Institutional Bull Run

On May 1st, BlackRock’s spot Bitcoin ETF made a significant move, acquiring 3,730 bitcoins valued at $351.4 million. This purchase underscores the growing institutional appetite for Bitcoin and marks one of the largest single-day accumulations by an institutional fund so far in 2024. BlackRock’s actions align with a broader trend of traditional financial players expanding their involvement in the crypto market, fueling bullish sentiment among many.