Bitcoin’s price dip to $92,957 on December 5 spurred major acquisitions by BlackRock and MARA Holdings, who collectively purchased 9,173 Bitcoin.

BlackRock made the most significant move, purchasing 7,750 Bitcoin, according to data from Arkham.

This acquisition pushed the asset management giant’s total Bitcoin holdings to $48.9 billion.

The purchases were fueled by surging demand for shares of its spot Bitcoin exchange-traded fund (ETF), described by Apollo Markets’ Thomas Fahrer as the “fastest-growing ETF ever.”