BlackRock Buys 1,000 BTC Worth $84M from Coinbase for Its Spot ETF as Bitcoin Nears $88K

BlackRock Inc. has purchased $84 million worth of Bitcoin, acquiring 1,000 BTC from Coinbase Prime wallets for its spot Bitcoin exchange-traded fund (ETF). This transaction occurred as Bitcoin trades near $88,000, reflecting continued institutional demand for the cryptocurrency.

This purchase adds to BlackRock's holdings, which, along with MicroStrategy, now total over 1.11 million Bitcoins. The move by BlackRock highlights the increasing involvement of major financial institutions in cryptocurrency investments.

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