BlackRock's Spot Bitcoin ETF Sucks in Record $195M
BlackRock's spot Bitcoin ETF, IBIT, drew in a massive $195.6 million on a single trading session, extending its month-long buying streak that has added around $1.57 billion to the world's largest asset manager's crypto portfolio. This influx pushed BlackRock's total Bitcoin holdings to 801,769 BTC, worth approximately $67.87 billion at current prices.
This represents about 3.8% of Bitcoin's capped supply of 21 million coins. The purchases came as Bitcoin's price rebounded above $84,000, rekindling institutional appetite for the asset. On-chain data shows BlackRock acquiring Bitcoin during most ETF trading sessions over the past month.
The firm has been buying in batches of 300 BTC from a Coinbase hot wallet to an address associated with BlackRock, part of what analysts describe as a deliberate effort to reinforce its reserves. Bitcoin now accounts for more than 87% of BlackRock's tracked digital asset portfolio, which totals roughly $77.93 billion.