BlackRock adds $416 million in Bitcoin, strengthening its position as one of the largest institutional BTC holders worldwide.
The firm’s IBIT ETF leads U.S. spot Bitcoin ETFs with $764 million in daily inflows, driving a ten-day winning streak.
Bitcoin’s price surge, fueled by ETF demand, pushes it above $123,000 as institutional support continues to build.
BlackRock has acquired an additional $416 million worth of Bitcoin, marking another significant step in its month-long accumulation trend. Data from the blockchain analytics platform Arkham confirms that the recent purchase involved approximately 3,478 BTC based on prices at the time of acquisition.
With this latest addition, BlackRock’s Bitcoin portfolio has grown to around 716,500 BTC. At current prices, the firm’s total holdings are valued at approximately $85.4 billion. This accounts for roughly 3.6% of Bitcoin’s total circulating supply, further cementing BlackRock’s position among the world’s largest BTC holders.
ETF Inflows Continue to Lead the Market
The asset manager’s aggressive accumulation is directly tied to the performance of its spot Bitcoin ETF, IBIT. According to data from SoSoValue, U.S.-listed spot Bitcoin ETFs recorded combined daily inflows of $799.4 million. IBIT dominated these figures, attracting approximately $764 million in a single day.
https://twitter.com/arkham/status/1945518540741652937
Spot Bitcoin ETFs' interest has made a ten-day streak of inflows remain intense, with an increased demand among institutional investors. This stable demand is in contrast to other cycles in the market, which were mostly fueled by retail speculation.
Bitcoin Surpasses $123,000 Amid ETF Surge
Amid rising ETF inflows, Bitcoin’s price has also surged. The cryptocurrency recently crossed the $123,000 mark, although it currently trades at around $118,620. Over the past day, Bitcoin has risen by nearly one percent, showing continued strength in the current rally.
Since April, spot Bitcoin and Ethereum ETFs have attracted more than $20 billion in total inflows. This performance places them ahead of all other ETF categories globally. Analysts attribute the steady inflow trend to a core factor behind Bitcoin’s latest price breakout.
With its growing BTC position, BlackRock now holds more Bitcoin than major crypto exchanges such as Binance and institutional funds like MicroStrategy. The firm is approaching the estimated holdings of Bitcoin’s anonymous creator, Satoshi Nakamoto, signaling a shift in digital asset ownership.
The post BlackRock Adds $416M in Bitcoin, Pushes ETF Holdings Near 3.6% Supply appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
