- BlackRock purchased $66 million worth of Bitcoin on April 4 despite the ongoing stock market sell-off.
- The move came as U.S. markets plunged following Trump’s global tariff announcement and China’s 34% retaliation.
- BlackRock’s Bitcoin ETF now holds over $47 billion in assets, signaling strong institutional confidence in crypto.
The markets took another hit Thursday, still reeling from President Donald Trump’s April 2 announcement of sweeping global tariffs — dubbed “Liberation Day.” On April 4, China clapped back with a matching 34% tariff on American imports, intensifying fears of an all-out trade war.
The damage? S&P 500 down 4.61%, the Dow off by almost 4%, and the Nasdaq fell nearly 4.8%. Not exactly a calming Thursday.
BlackRock Stock Slides Too — But Still Goes Big on Bitcoin
Even BlackRock (NYSE: BLK), the world’s largest asset manager, didn’t escape the fallout. Its stock dropped 6% Thursday, and has fallen about 13% since the tariff announcement. But interestingly, instead of retreating, BlackRock leaned in — hard.
According to on-chain analytics firm Arkham, BlackRock bought $66 million worth of Bitcoin on April 4, right in the middle of the chaos.
Betting on Bitcoin as a Safe Haven?
BlackRock has been offering a spot Bitcoin ETF in the U.S. since January 2024. These ETFs let investors gain exposure to Bitcoin without directly owning any — useful for institutions who want in on crypto, but with a bit of structure.
The timing of this new purchase seems more than symbolic. With stocks crashing and uncertainty swirling, it’s a signal that BlackRock sees crypto — especially Bitcoin — as a kind of alternative ballast in stormy seas.
Talks With SEC, and a $47B Bitcoin ETF
On April 1, BlackRock officials reportedly met with the SEC’s crypto task force to discuss potential future crypto products. And as of April 3, their Bitcoin ETF had amassed over $47 billion in net assets, according to SoSoValue.
So, while investors are panicking and markets are bleeding red, BlackRock is calmly scooping up digital gold. Classic move — and maybe a sign of where the winds are blowing.
