U.Today – BlackRock’s Bitcoin Holdings

BlackRock (NYSE:BLK) iShares Bitcoin Trust (IBIT) dominates the BTC ETF market. The asset manager recently revealed its Bitcoin holdings have surpassed 342,000 BTC.

BlackRock’s Record-breaking Bitcoin Holdings

The current total stands at 342,658.96610 BTC, with the market priced at $65,770 per BTC. This totals to approximately $22,537,283,282.30 as of July 31, 2024.

This achievement marks a notable victory for BlackRock, following reports of CEO Larry Fink declaring himself a “major Bitcoin believer,” a shift from his previous views on cryptocurrencies. Fink acknowledges Bitcoin’s authenticity despite some misuse.

Currently, BlackRock also holds $325,375.08 in USD Cash.

In July, BlackRock experienced a bullish trend, highlighted by $525.5 million worth of Bitcoin ETF inflows on July 23, marking one of its best performances.

BlackRock’s Expansion into Ethereum ETFs

In a strategic move, BlackRock launched a spot Bitcoin ETF in January, achieving strong performance. Following this success, the firm quickly filed for a spot Ethereum ETF.

Last month, BlackRock’s spot Ethereum ETF began trading alongside eight other firms. Observers are eager to see if it will achieve similar success as the Bitcoin ETF, though growth may be slower.

This article was originally published on U.Today.