According to on-chain data shared on January 3, customers associated with BlackRock added 3,199 Bitcoin in a new round of accumulation. The purchase price was valued at approximately $280 million at the time of the transaction, based on prevailing market prices. Bitcoins were moved through custodial and payment flows associated with Coinbase Prime. A platform commonly used by major asset management companies and ETF issuers. This activity is consistent with recent patterns indicating continued engagement by institutional investors in spot Bitcoin exposure despite widespread market volatility.
ETF demand continues to drive institutional investor flows
The recent wave of buying appears to be related to demand for BlackRock’s Spot Bitcoin ETF product. On-chain records show multiple transfers to wallets labeled as ETF custody. Rather than a speculative trading account. This suggests that the purchases were structural allocations tied to customer inflows rather than short-term positioning.
Just in: BlackRock customer purchases $3,199 BTC worth $280.12 million. pic.twitter.com/YWlCbVuo6y
— Whale Insider (@WhaleInsider) January 3, 2026
Some transfers occurred in clustered batches. This is a common structure when ETF issuers settle creation orders. Although the size of individual transactions varies. The total reached over 3,000 BTC in a short period of time. At a price of nearly $90,000, this marked one of the largest single-day cumulative events so far in early 2026. Market participants noted that these flows typically reflect long-term portfolio decisions. Unlike retail trading activity, ETF-linked purchases tend to follow asset allocation models and customer subscriptions. This can persist even during sideways or corrective price action.
On-chain data highlights the growing footprint of institutions
Estimates of blockchain analytics platforms that track BlackRock-related addresses. In total, these wallets tied to the company currently hold hundreds of thousands of bitcoins. Rather than being concentrated in a single address, these holdings are spread across the ETF’s custody structure. This reflects compliance and operational requirements.
The data also shows parallel activity on the Ethereum side. There were also inflows into Ethereum ETF wallets linked to BlackRock during the same period. However, in the latest series of transactions, Bitcoin remained the dominant asset in terms of value and volume. Analysts say the accumulation from regulated products will remove supply from liquid exchange balances. When Bitcoins are transferred to a long-term storage vehicle. They are typically less sensitive to short-term price changes, at least until redemption occurs.
Market context and broader impact
This accumulation will occur as Bitcoin enters a stable price range in 2026. Although sentiment remains mixed, institutional capital flows have remained relatively stable compared to retail activity. It fluctuates depending on macro headlines and interest rate expectations. Observers cautioned against overinterpreting daily inflows. However, repeated purchase events of similar size may indicate sustained demand rather than isolated interest. If applications for ETFs continue at this pace, available supply could gradually tighten. Especially since long-term holders remain inactive.
Now, the latest data confirms a familiar theme. Institutional investors are still allocating funds to Bitcoin through regulated channels. The short-term direction of the market remains uncertain. Whether this translates into higher prices depends on the broader liquidity situation. Also, how consistent will these inflows be over the coming weeks?