BlackRock scoops up $138.9M in Bitcoin as BTC reclaims $65,000

BlackRock clients acquired $138.9 million of Bitcoin on July 15, marking the asset manager's first BTC purchase of the week and ending a prolonged selling streak in the Bitcoin ETF market.

The transaction was detected by on-chain tracking platform WhaleInsider, which reported the purchase occurred when Bitcoin was trading near $63,840. BlackRock, the world's largest asset manager with $15.34 trillion in assets under management as of Q2 2026, now holds more than 734,000 BTC across its digital asset products. Its iShares Bitcoin Trust, known as IBIT, has grown to approximately $45 billion to $47 billion in AUM and has been recognized as the fastest-growing exchange-traded product in history.

The purchase comes as BlackRock's broader digital asset business has faced headwinds — its crypto funds fell to $48.8 billion from $79.6 billion a year earlier, a 39% decline driven by $45.8 billion in market depreciation that offset $15.1 billion in net inflows. The firm is targeting $500 million in annual revenue from its crypto business by 2030, up from roughly $40 million currently.

Bitcoin reclaimed the $65,000 level during the session, supported by the intensifying institutional flow. The next resistance sits near $68,500, while support holds at $62,000, according to technical levels tracked by CoinGecko. The acquisition signals renewed institutional appetite for Bitcoin after a period of selling pressure in the ETF market, where many earlier holders faced unrealized losses from the broader market decline.

BlackRock's dominance in the Bitcoin ETF space has forced other asset managers to compete on fees and product design, accelerating the mainstream availability of regulated crypto exposure. The firm also manages $60 billion of Circle's reserves — roughly one-quarter of the $300 billion stablecoin market — and has identified tokenization and digital assets as central themes in its 2026 strategic outlook.

For traders, IBIT's continued growth adds a persistent buyer to Bitcoin markets. Institutions allocating through IBIT are setting strategic positions rather than day-trading, which structurally tightens available supply and could provide a floor for prices in the near term. The next catalyst to watch is BlackRock's formal Q2 2026 earnings release, scheduled for July 15 before market open, which may offer further commentary on the firm's digital asset strategy.

This article is for informational purposes only and does not constitute investment advice.