BlackRock and Fidelity purchased approximately $400 million in Bitcoin last week while selling $250 million, resulting in net institutional buying pressure, according to blockchain analytics firm Arkham on March 23. Total Bitcoin ETF inflows for the week reached $93.1 million, indicating institutions are accumulating the cryptocurrency at current prices.
Arkham made tracking data available for BlackRock's Bitcoin holdings on its platform. The buying activity suggests institutional investors are using market weakness to increase positions despite concurrent selling activity.
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