BlackRock surpasses $20 billion in Bitcoin holdings, driven by price increases, bringing their total crypto portfolio value to $20.7 billion, reports Arkham.
BlackRock has made headlines again by surpassing $20 billion in on-chain Bitcoin holdings for the first time. This development, highlighted by Arkham, showcases a boost in BlackRock’s crypto investments, showing the company’s growing trust in Bitcoin’s market capabilities.
TODAY: 🚨🚨
Blackrock’s on-chain Bitcoin holdings have exceeded $20 Billion for the first time. pic.twitter.com/PFYsIfTfAf
— Arkham (@ArkhamIntel) June 5, 2024
BlackRock’s Crypto Portfolio
The overall crypto portfolio value stands at $20,706,963,324, with a net positive change of $517.54 million. This appreciation is largely attributed to the price increase of Bitcoin and other assets within the portfolio. Bitcoin, the largest holding in BlackRock’s portfolio, is priced at $70,718.00, marking an increase of $1.78K.
BlackRock holds 291.563K BTC, which translates to a value of $20.62 billion. The net change for Bitcoin alone is $517.52 million. This substantial price increase in Bitcoin significantly drives the overall portfolio growth, given the large volume of holdings.
The Firm Also Hold Altcoins
In addition, the asset manager holds 2.337 million COLLE, valued at $134.69K, with a net change of -$2.51K. Their holdings of 330.859K UBXS are valued at $97.91K, showing a net gain of $9.58K. Additionally, LEOX holdings are valued at $22.59K.
The firm’s balance also includes 7.952 million ISP, amounting to $22.34K, with a net increase of $2.04K. Their 10K RIO holdings are valued at $20.4K, with a net gain of $3.3K. Lastly, its SHI holdings of 13.356 billion are valued at $13.27K, reflecting an increase of $1.37K.
On-Chain Flows in Bitcoin ETFs
The Block also measured daily on-chain flows in Bitcoin for various spot Bitcoin ETFs from mid-January to early June 2024. Significant positive inflows and outflows were observed, with large inflows above 10K BTC on Jan. 22, Feb. 11, and early March.
Conversely, significant outflows of 10 BTC occurred on Jan. 18, Feb. 5, and early March. From mid-May to early June, the data indicates fewer extreme fluctuations in the flow compared to earlier months.
It is also crucial to remember that the BlackRock iShares Bitcoin Trust (IBIT) briefly overtook the Grayscale Bitcoin Trust (GBTC) as the largest BTC ETF following the latest round of inflows on May 29. Arkham Intelligence highlighted this achievement, noting the significant capital flows into the spot Bitcoin ETF market.
On May 28 alone, the BTC ETF market in the U.S. recorded inflows worth $45 million, marking the 11th consecutive day of positive net flows.
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