BlackRock Surpasses $20 Billion in Bitcoin Holdings, Reaching $20.7 Billion in Total Crypto Portfolio Value
BlackRock has achieved a significant milestone by surpassing $20 billion in on-chain Bitcoin holdings, as reported by Arkham. This achievement highlights the company’s increasing confidence in the market potential of Bitcoin and other cryptocurrencies.
BlackRock’s 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. This increase can be primarily attributed to the rise in Bitcoin’s price and the performance of other assets in the portfolio. Bitcoin, the largest asset in BlackRock’s portfolio, is currently priced at $70,718.00, representing a $1.78K increase.
BlackRock currently holds 291.563K BTC, 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 due to the significant amount of holdings.
Other Altcoin Holdings
Additionally, BlackRock 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. LEOX holdings are valued at $22.59K.
The firm also holds 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.
Bitcoin ETF On-Chain Flows
The Block has observed daily on-chain flows in Bitcoin for various spot Bitcoin ETFs from mid-January to early June 2024. Significant positive inflows and outflows have been recorded, with inflows exceeding 10K BTC on Jan. 22, Feb. 11, and early March.
Conversely, notable outflows of 10 BTC occurred on Jan. 18, Feb. 5, and early March. The data from mid-May to early June shows fewer extreme fluctuations in the flow compared to previous months.
Furthermore, the BlackRock iShares Bitcoin Trust (IBIT) briefly surpassed the Grayscale Bitcoin Trust (GBTC) as the largest BTC ETF following substantial inflows on May 29. Arkham Intelligence highlighted this milestone, emphasizing the significant capital inflows into the spot Bitcoin ETF market.
On May 28 alone, the BTC ETF market in the U.S. recorded inflows amounting to $45 million, marking the 11th consecutive day of positive net flows.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed herein are the author’s own and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic does not assume responsibility for any financial losses incurred.