BlackRock’s Bitcoin Holdings Surpass $20 Billion, Total Crypto Portfolio Value Hits $20.7 Billion
BlackRock has reached a significant milestone by exceeding $20 billion in Bitcoin holdings, as reported by Arkham. This achievement underscores the company’s growing confidence in the potential of the crypto market.
BlackRock’s Impressive Crypto Portfolio
The total value of BlackRock’s crypto portfolio now stands at $20,706,963,324, with a positive change of $517.54 million. The surge in value can be largely attributed to the rise in Bitcoin and other assets within the portfolio. Bitcoin, the primary asset in BlackRock’s holdings, is currently priced at $70,718.00, reflecting an increase of $1.78K.
With a total of 291.563K BTC, BlackRock’s Bitcoin holdings are valued at $20.62 billion, with a net change of $517.52 million. The substantial growth in Bitcoin’s value has significantly contributed to the overall increase in the portfolio’s worth.
Diversified Holdings
In addition to Bitcoin, BlackRock also holds other altcoins in its portfolio. The company possesses 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, LEOX holdings are valued at $22.59K.
BlackRock’s portfolio 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 holdings of 13.356 billion SHI are valued at $13.27K, reflecting an increase of $1.37K.
Bitcoin ETF On-Chain Flows
The Block 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.
Conversely, significant outflows of 10 BTC occurred on Jan. 18, Feb. 5, and early March. The data from mid-May to early June indicates fewer extreme fluctuations in the flow compared to earlier months.
BlackRock iShares Bitcoin Trust (IBIT) Surpasses Grayscale Bitcoin Trust (GBTC)
Arkham Intelligence highlighted that the BlackRock iShares Bitcoin Trust (IBIT) briefly overtook the Grayscale Bitcoin Trust (GBTC) as the largest BTC ETF following a recent influx of investments on May 29. This achievement underscores the significant capital flows into the spot Bitcoin ETF market.
On May 28 alone, the U.S. BTC ETF market witnessed inflows totaling $45 million, marking the 11th consecutive day of positive net flows.
Disclaimer: This content serves as information and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect The Crypto Basic’s viewpoint. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.