In January 2024, the United States Securities and Exchange Commission (SEC) approved the first Bitcoin (BTC) exchange-traded funds (ETFs), including one by BlackRock (NYSE: BLK). Subsequently, BlackRock has been increasing its Bitcoin holdings as part of the IBIT iShares Bitcoin Trust ETF. Currently, BlackRock’s total Bitcoin holdings amount to 359,278 BTC, valued at around $22.9 billion, as of data obtained from Apollo Bitcoin Tracker on September 25.
Interestingly, BlackRock’s Bitcoin ETF witnessed a significant inflow of $99 million worth of Bitcoin, equivalent to 1,548 BTC, within a single day, marking the highest inflow in a month. This surge brought their total holdings from 357,730 BTC on September 23 to 359,278 BTC on September 24, solidifying BlackRock’s leading position among spot Bitcoin ETF managers.
In comparison to other spot Bitcoin ETF managers, BlackRock stands ahead with Grayscale holding 221,043 BTC, Fidelity with 177,224 BTC, ARK Invest with 46,614 BTC, Bitwise with 38,591 BTC, and a collective total of 915,570 BTC among other managers.
BlackRock’s Head of Digital Assets, Robbie Mitchnick, highlighted the company’s investment policies regarding Bitcoin, emphasizing its role as an emerging global monetary alternative with unique properties that make it a valuable investment asset amidst global financial uncertainties.
Despite the bullish sentiment demonstrated by BlackRock’s activities in purchasing Bitcoin, it is essential to acknowledge that investing in Bitcoin, like any asset, carries risks, and price fluctuations are common. Therefore, conducting thorough research before investing is crucial to making informed decisions and managing risks effectively.