BlackRock Amasses Over $1 Billion in Bitcoin Holdings
BlackRock has continued its relentless expansion of Bitcoin holdings, further solidifying its position as one of the largest corporate owners of the cryptocurrency.
A recent analysis by Arkham Intelligence shows that BlackRock's iShares Bitcoin Trust (IBIT) saw a significant influx of capital over the last 20 days, with the company purchasing approximately $1.08 billion worth of Bitcoin during this period.
This represents heightened demand for Bitcoin among institutional investors who have chosen to gain exposure to the asset through BlackRock, according to the data.
The buying activity from BlackRock occurred on seven out of the last monthly ETF trading sessions, with the company's total Bitcoin holdings now standing at 785,900 BTC worth around $61 billion.