BlackRock’s Bitcoin Holdings Surpass $20 Billion, Boosting Crypto Portfolio to $20.7 Billion, According to Arkham
BlackRock has once again captured the spotlight by exceeding $20 billion in on-chain Bitcoin holdings for the first time. This milestone, as reported by Arkham, demonstrates a surge in BlackRock’s crypto investments, showcasing the company’s growing confidence in the market potential of Bitcoin.
BlackRock’s Crypto Portfolio
The total value of the crypto portfolio now stands at $20,706,963,324, with a positive change of $517.54 million. This increase can be largely attributed to the rise in the value of Bitcoin and other assets held by the company. Bitcoin, being the largest asset in BlackRock’s portfolio, is currently priced at $70,718.00, indicating a $1.78K increase.
BlackRock currently owns 291.563K BTC, valued at $20.62 billion, with a net change of $517.52 million. The substantial appreciation in the value of Bitcoin has significantly contributed to the overall growth of the portfolio, given the considerable amount held.
The Company’s Altcoin Holdings
Apart from Bitcoin, BlackRock also holds 2.337 million COLLE, valued at $134.69K, with a net change of -$2.51K. The holdings of 330.859K UBXS are valued at $97.91K, showing a net gain of $9.58K. Additionally, the LEOX holdings are valued at $22.59K.
The firm’s balance sheet 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. Finally, the SHI holdings of 13.356 billion are valued at $13.27K, reflecting an increase of $1.37K.
On-Chain Bitcoin ETF Flows
The Block also 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 inflows exceeding 10K BTC on Jan. 22, Feb. 11, and early March.
Conversely, outflows of 10 BTC were noted on Jan. 18, Feb. 5, and early March. From mid-May to early June, the data indicates fewer extreme fluctuations in the flow compared to previous months.
It is noteworthy that the BlackRock iShares Bitcoin Trust (IBIT) briefly surpassed the Grayscale Bitcoin Trust (GBTC) as the largest BTC ETF following the latest round of inflows on May 29. Arkham Intelligence highlighted this milestone, emphasizing the significant capital flows into the spot Bitcoin ETF market.
On May 28 alone, the U.S. BTC ETF market saw inflows totaling $45 million, marking the 11th consecutive day of positive net flows.
Disclaimer: This content is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are personal and do not represent the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic does not accept responsibility for any financial losses.
Arkham BlackRocks OnChain Bitcoin Holdings Surpass 20 Billion