BlackRock Adds $1.5B to Bitcoin Holdings, Now Accounts for 87% of Crypto Portfolio
BlackRock, a leading asset management firm, has significantly expanded its Bitcoin holdings after a month of consistent inflows through its Bitcoin funds. The data shows that BlackRock purchased a net total of $1.57 billion worth of Bitcoin over the past month, increasing its holdings substantially.
The firm's latest purchase, which came to $195.6 million worth of BTC, followed Bitcoin's recent rebound to above $84,000. This suggests that the rally has ignited fresh interest from institutional investors.
The data also shows that BlackRock's Bitcoin purchases have been made through a series of Bitcoin transfers, with batches of 300 BTC moving between a Coinbase hot wallet and a wallet linked to BlackRock.
BlackRock now holds 801,769 BTC, worth about $67.87 billion at Bitcoin's current price. This makes up the largest part of BlackRock's $77.93 billion tracked crypto portfolio, accounting for over 87% of the firm's total holdings. Ethereum is the second-largest holding, with $10.06 billion worth of ETH.