BlackRock Achieves Milestone of Over $20 Billion in Bitcoin Holdings, Total Crypto Portfolio Value Reaches $20.7 Billion, According to Arkham
In a groundbreaking move, BlackRock has exceeded $20 billion in on-chain Bitcoin holdings, marking a significant milestone. This achievement, as reported by Arkham, underscores BlackRock’s increasing investments in the crypto market and their growing confidence in the potential of Bitcoin.
BlackRock’s Crypto Portfolio
The total value of BlackRock’s crypto portfolio now stands at $20,706,963,324, with a positive net change of $517.54 million. This growth can be largely attributed to the rise in Bitcoin’s price, as well as the performance of other assets in the portfolio. Bitcoin, being the largest holding, is currently priced at $70,718.00, reflecting a $1.78K increase.
BlackRock currently holds 291.563K BTC, valued at $20.62 billion, with a net change of $517.52 million. The significant surge in Bitcoin’s price has had a substantial impact on the overall growth of the portfolio, thanks to the large volume of holdings.
Diversification into Altcoins
Aside from Bitcoin, BlackRock also holds a variety of altcoins in their portfolio. They possess 2.337 million COLLE, valued at $134.69K, with a net change of -$2.51K. Furthermore, their holdings of 330.859K UBXS are valued at $97.91K, showing a net gain of $9.58K. Additionally, their 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, their 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 has analyzed the 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 notable inflows exceeding 10K BTC on Jan. 22, Feb. 11, and early March.
In contrast, significant outflows of 10 BTC were noted on Jan. 18, Feb. 5, and early March. From mid-May to early June, the data shows fewer extreme fluctuations in the flow compared to previous months.
It is worth mentioning that the BlackRock iShares Bitcoin Trust (IBIT) briefly surpassed the Grayscale Bitcoin Trust (GBTC) as the largest BTC ETF following a recent round of inflows on May 29. Arkham Intelligence highlighted this achievement, emphasizing the substantial capital flows into the spot Bitcoin ETF market.
On May 28 alone, the BTC ETF market in the U.S. recorded inflows totaling $45 million, marking the 11th consecutive day of positive net flows.
Disclaimer: This content serves as information only and should not be considered financial advice. The opinions expressed in this article are personal and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.