Here’s How Much Bitcoin BlackRock Currently Holds

BlackRock’s iShares Trust (IBIT) has established itself as a dominant player in the Bitcoin ETF market. Recently, the asset manager announced that its total Bitcoin holdings have surpassed 342,000 BTC.

### Record-Breaking Bitcoin Holdings

Currently, BlackRock’s holdings stand at approximately 342,658.97 BTC, valued at around $65,770 per BTC. This translates to a staggering value exceeding $22.5 billion as of July 31, 2024. This achievement highlights a significant milestone for BlackRock, especially following remarks from CEO Larry Fink, who recently expressed his strong belief in Bitcoin. This marks a notable shift from his previous skepticism regarding the cryptocurrency, as he now acknowledges its authenticity despite some concerns about its usage.

Additionally, BlackRock holds substantial cash reserves in its portfolio, amounting to 325,375.08 in USD.

The company experienced a bullish trend in July, highlighted by inflows of $525.5 million into its Bitcoin ETF on July 23—a peak performance for the asset manager.

### Expansion into ETFs

In a bold move, BlackRock joined other investment firms to launch a spot Bitcoin ETF in January, which has seen considerable success. Following this achievement, the company quickly filed for a spot Ethereum ETF. Last month, BlackRock’s Ethereum ETF began trading alongside offerings from eight other companies.

Market analysts are eager to see how the Ethereum ETF performs, with many hoping it will achieve success similar to that of the Bitcoin ETF. However, analysts predict that its growth may be more gradual compared to Bitcoin.