Over $1.5 Billion in Bitcoin Tops BlackRock Holdings in One Month

BlackRock spent over $1.5 billion on recent Bitcoin purchases, expanding its holdings while retaining its dominance in the Bitcoin ETF market.

Leading asset management firm BlackRock has significantly expanded its Bitcoin holdings after a month of consistent inflows through its Bitcoin funds.

While the demand for the BlackRock Bitcoin ETF has remained pretty impressive, the latest data from Arkham Intelligence shows that BlackRock has continued to buy Bitcoin on most ETF trading sessions over the past month.

The data shows that BlackRock has increased its Bitcoin holdings substantially after purchasing a net total of $1.57 billion worth of Bitcoin over the past month.

Its latest purchase, which carried a sum of $195.6 million worth of BTC, came following Bitcoin’s recent rebound to above $84,000, suggesting that the rally ignited fresh interest from institutional investors.

Notably, BlackRock’s recent Bitcoin purchase saw a series of Bitcoin transfers move in batches of 300 BTC between a Coinbase hot wallet and a wallet linked to BlackRock.

While the aggressive Bitcoin accumulation has arrived as BlackRock’s spot Bitcoin ETF, IBIT, continues to attract fresh capital from investors, it further fortifies BlackRock’s position as a dominant fund in the Bitcoin ETF market.

After adding over $1.5 billion worth of Bitcoin to its holdings, the data shows that BlackRock now holds up to 801,769 BTC, worth about $67.87 billion at Bitcoin’s current price.

As such, Bitcoin makes up the largest part of BlackRock’s $77.93 billion tracked crypto portfolio, accounting for over 87% of the firm’s total holdings, while Ethereum followed closely with $10.06 billion worth of ETH out of its total crypto portfolio.