BlackRock purchased $66M in Bitcoin during market crash, showcasing growing importance of the asset.

From Yahoo Finance: 2025-04-04 15:22:00

The stock market continued to plummet after President Trump’s announcement of global tariffs, with China retaliating with 34% tariffs on American imports. The S&P 500 dropped 4.61%, the DJIA fell 3.95%, and the Nasdaq declined 4.79% on Apr. 4. BlackRock saw a 6% drop in stock price to $833.61 and purchased $66 million in Bitcoin despite the market crash.

BlackRock has been offering a spot Bitcoin ETF since January 2024, allowing investors exposure to Bitcoin without direct purchasing. Their increased Bitcoin acquisition on a day of market turmoil showcases the growing importance of the asset. BlackRock representatives met with the SEC’s crypto task force on Apr. 1 to discuss potential crypto products. The firm’s Bitcoin ETF held over $47 billion in net assets as of Apr. 3.



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