BlackRock has made a significant Bitcoin purchase of $138.9 million on Wednesday, July 15, ending its prolonged selling streak as the Bitcoin ETF market shows signs of recovery. The move comes as institutional demand for the leading cryptocurrency appears to be rising again after weeks of caution.
BlackRock's Bitcoin ETF Regains Momentum
The purchase marks BlackRock's first Bitcoin acquisition of the week, following a price rally that pushed Bitcoin back into an upward trajectory. Onchain data reveals that the broader Bitcoin ETF market recorded $181 million in combined inflows during the latest trading session, with BlackRock maintaining its lead among competitors. Investors now expect further transactions in the coming days amid renewed optimism for Bitcoin-based investment products.
Bitcoin Reclaims Dominance Over XRP
In recent months, XRP had outperformed Bitcoin and Ethereum in ETF performance, consistently attracting fresh capital while other funds saw outflows. However, Bitcoin has now reclaimed its dominance as demand returns to the market. XRP ETFs have recorded zero net flows on most trading sessions recently, with trading activity remaining muted as capital shifts back to Bitcoin.