BlackRock’s Bitcoin Holdings Exceed $20 Billion, Total Crypto Portfolio Value Reaches $20.7 Billion, According to Arkham
BlackRock has once again made waves in the financial world by surpassing $20 billion in on-chain Bitcoin holdings, a milestone that has been celebrated by Arkham. This achievement highlights BlackRock’s increasing confidence in the potential of the cryptocurrency market.
Crypto Portfolio Breakdown
The total value of BlackRock’s crypto portfolio now stands at $20,706,963,324, with a positive change of $517.54 million. This growth can be largely attributed to the surge in Bitcoin prices and the performance of other assets in the portfolio. Bitcoin, which is the largest holding in BlackRock’s portfolio, is currently valued at $70,718.00, representing a substantial increase of $1.78K.
BlackRock currently holds 291.563K BTC, which is equivalent to $20.62 billion in value. The net change in Bitcoin holdings alone amounts to $517.52 million. The significant rise in the price of Bitcoin has played a crucial role in driving the overall growth of BlackRock’s portfolio, given the substantial volume of holdings.
Diversification into Altcoins
In addition to Bitcoin, BlackRock also holds other cryptocurrencies in its portfolio. The asset manager owns 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 also valued at $22.59K.
Furthermore, BlackRock’s portfolio includes 7.952 million ISP, totaling $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.
Analysis of On-Chain Flows in Bitcoin ETFs
The Block has conducted an analysis of daily on-chain flows in Bitcoin for various spot Bitcoin ETFs from mid-January to early June 2024. The data reveals significant positive inflows and outflows, with notable inflows exceeding 10K BTC on Jan. 22, Feb. 11, and early March.
Conversely, significant outflows of 10 BTC were observed on Jan. 18, Feb. 5, and early March. From mid-May to early June, the data indicates a decrease in extreme fluctuations in the flow compared to previous months.
Furthermore, it is worth noting 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 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 intended for informational purposes only and should not be construed as financial advice. The opinions expressed herein are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.