- Bitcoin surged 20% in a week, topping $80,000 for the first time since May and fueling bets the bear market is ending.
- BlackRock has lowered the minimum for direct swaps into its $60 billion IBIT fund to $1 million, expanding access for investors.
- U.S. bitcoin ETFs recorded their strongest weekly inflows in 10 months, providing structural support for the rally.
Bitcoin has rocketed 20% over the last week, soaring past $80,000 per bitcoin for the first time since May as Treasury Secretary Scott Bessent puts the “fear of god” into traders. The move has kindled hopes among crypto faithful that the 2026 bear market could be ending.
Now, the world’s largest asset manager BlackRock has revealed its $60 billion bitcoin fund is poised to keep growing. Robbie Mitchnick, head of digital assets at BlackRock, told Bloomberg: “It’s going to keep growing because we keep expanding the access.”
BlackRock lowered the minimum bitcoin required for a direct swap into its IBIT fund to $1 million from $25 million previously. Investors can exchange their bitcoin for ETF shares without first selling, avoiding potential capital gains taxes.
BlackRock is capitalizing on recent hardware wallet hacks, including an attack on Coldcard devices that sparked fears self-custody risk is too high. Mitchnick noted: “People see things happen in the outside world—whether it’s kidnappings, ransom, custody failures—that motivate them to make this switch.”
Meanwhile, the 13 U.S. bitcoin ETFs, led by BlackRock’s IBIT, have recorded their strongest weekly inflows in 10 months. Talos researchers Tanay Ved and Cooper Duschang noted: “Bitcoin’s 23% rally and the jump in volatility this week rank among the largest in its history.”
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Hovers Near $80K as Sell-Side Pressure Persists
- INTERPOL nabs 58 in global takedown of West African cyber fraud rings
- Ex-X Head Hints Crypto Trading Coming to X Soon
- 39 US state banking groups launch BankChain Alliance for 2027 blockchain network
- Stocks Rise as Cooling Oil and Yields Lift Sentiment Before Nvidia Earnings
