BlackRock’s Bitcoin ETF Increases Holdings to 2.7% of Total BTC Supply Following Significant Acquisition
/Article


BlackRock, known for its strategic investment decisions, recently made headlines for acquiring a staggering $1 billion worth of Bitcoin (BTC), boosting its total Bitcoin investments to a remarkable $60.6 billion. This move was primarily driven by their significant Bitcoin purchase on January 22, 2025.

As reported by blockchain intelligence platform Arkham Intelligence, BlackRock now holds a substantial 572,616 Bitcoins, representing around 2.7% of the total BTC supply. The firm's latest transaction saw them acquire BTC worth $600 million on January 22, marking their largest purchase of the year.

BlackRock's iShares Bitcoin ETF (IBIT) remains a leader in the Bitcoin exchange-traded fund (ETF) sector. Despite experiencing some outflows earlier this month, IBIT witnessed a strong rebound on January 24, exceeding $1 billion in trading volume within the first two hours of trading.

According to data from SoSo Value, on January 24, IBIT recorded a net inflow of $155.69 million, pushing total cumulative inflows to $39.73 billion. The ETF also saw trading volumes reach $2.78 billion on the same day.

IBIT has distinguished itself as the fastest-growing ETF in history, outperforming the top 20 US ETF launches in 2024. BlackRock's Head of Digital Assets, Robert Mitchnick, underlined the success of IBIT and the increasing adoption of Bitcoin in a recent interview with Bloomberg. While acknowledging the achievements of 2024, Mitchnick stressed that Bitcoin's adoption is still in its early stages.

CEO Larry Fink has also weighed in on Bitcoin's potential, predicting that widespread adoption could propel prices to unprecedented levels, ranging between $500,000 and $700,000 per BTC.

Despite BlackRock's bullish stance, Bitcoin experienced a slight dip below the $100,000 mark earlier in the week, with the cryptocurrency currently trading at $99,090, reflecting a 5.6% decline over the past 24 hours.

Leave a Reply

Your email address will not be published. Required fields are marked *