BlackRock significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) last week, scooping up more than $1.8 billion worth of the assets as institutional demand for cryptocurrency investment products accelerated.
The asset manager attracted the largest share of inflows into U.S. spot crypto exchange-traded funds (ETFs) during one of the strongest weeks for the sector this year.
Over the five trading sessions ending August 21, BlackRock’s spot Bitcoin and Ethereum ETFs recorded a combined $1.87 billion in net inflows.
In this vein, data shows BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $1.33 billion between August 17 and August 21, while the iShares Ethereum Trust (ETHA) added another $536.8 million. The combined inflows made BlackRock a key driver of the crypto market’s latest rally.
IBIT attracted $160.2 million on August 17, $143.6 million on August 18, $284.7 million on August 19, $503 million on August 20, and $239.3 million on August 21, bringing its five-day total to approximately $1.33 billion.
The largest single-day inflow came on August 20, when investors poured more than $503 million into the fund. On that day, U.S. spot Bitcoin ETFs collectively attracted $606.3 million, their highest daily inflow since May.
Ethereum ETF inflows
Ethereum also saw strong institutional demand. BlackRock’s ETHA absorbed $25.9 million on August 17, $64.7 million on August 18, $122.1 million on August 19, $173.3 million on August 20, and $150.8 million on August 21, lifting its weekly total to $536.8 million.
The BlackRock purchases came during a breakout week for the broader U.S. spot crypto ETF market.
According to industry data, U.S. spot Bitcoin ETFs attracted approximately $1.9 billion in net inflows during the week, while spot Ethereum ETFs added nearly $700 million.
Combined inflows reached about $2.6 billion, marking the strongest week for both ETF categories since October 2025 and the largest weekly inflows of 2026. Trading volume across the funds more than tripled to roughly $29 billion.
BlackRock alone accounted for nearly 70% of the week’s Bitcoin ETF inflows and more than 75% of Ethereum ETF inflows.
Bitcoin rebound triggers ETF inflows
Several factors drove the surge in demand. Specifically, Bitcoin climbed above $77,000 after the U.S. Treasury expanded long-dated bond buybacks, a move that weakened the dollar and boosted demand for alternative assets such as Bitcoin and gold.
Investor sentiment also improved amid renewed momentum for U.S. crypto regulation, including discussions surrounding the proposed CLARITY Act.
At the same time, a sharp market rally triggered significant short covering, attracting fresh institutional capital into Bitcoin and Ethereum ETFs.
The strong inflows marked a sharp reversal from the previous week, when U.S. spot crypto ETFs recorded net outflows.
