According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s Bitcoin (BTC) IBIT ETF has entered the top 20 most traded ETFs this year. IBIT currently sits at the 13th spot, just behind Direxion Daily Semiconductor Bull 3X Shares (SOXL US). The SPY US continues to dominate the chart. SPY US has been the top-most traded ETF for the last 10 years.

BlackRock Continues Bitcoin Purchase

According to Farside Investors, BlackRock has purchased $930.6 million worth of Bitcoin (BTC) in June. The world’s largest asset manager has liquidated $260.9 million worth of BTC in the same time frame.

BTC’s price faced a substantial correction earlier this month. The asset’s price fell to the $100,000 level after hitting a peak of $111,814 on May 22. BTC made a recovery to the $109,000 price point, but has slipped to the e$107,000 mark today. BTC is down 1.5% in the daily charts, but is up 2.5% in the weekly charts, 0.2% in the 14-day charts, 5% over the previous month, and 60.1% since June 2024.

Will The Asset Continue To Rally?

BTC has seen continued institutional inflows over the last few weeks. Institutional funding is a key driver for an asset’s price. BTC may continue its upswing if BlackRock and other financial institutions continue to buy the asset. Retail investors seem to be taking a back seat till now. We may witness a more significant rally if retail buyers also participate.

BTC currently faces considerable resistance at the $110,000 price level. BTC could climb to a new peak if it breaches the $110,000 mark.

Also Read: BlackRock’s IBIT Spot Bitcoin ETF Reaches $70 Billion AUM

According to Changelly, BTC will continue to rally over the next month. The platform anticipates the asset to hit a new all-time high of $120,902.90 on July 8, 2025. BTC’s price will rally by around 12.08% if it hits the $120,902.90 target.