The post Blackrock Dominates Bitcoin Holdings with Over 360,000 BTC Acquired appeared on BitcoinEthereumNews.com.

Blackrock, founded in 1988, has become a dominant player in the digital assets space, a development that would have seemed unlikely just a few years ago. The company is now acquiring significant portions of the available Bitcoin supply, illustrating a major shift in asset management strategies. According to IBIT, Blackrock’s digital asset fund has accumulated 363,626.36 BTC since its launch on January 11, 2024. Dive into the significant impact that Blackrock’s foray into digital assets is having on the crypto market and broader financial landscape. Blackrock’s Unprecedented Bitcoin Accumulation Blackrock, the world’s largest asset management company with $10.65 trillion under management, has turned its focus toward Bitcoin, amassing a staggering 363,626.36 BTC through its digital asset fund, IBIT. Since its inception on January 11, 2024, the fund has seen a net inflow of over $210 billion. Although Blackrock’s website indicates this substantial holding, Arkham Intelligence suggests a slightly lower figure of 362,193 BTC, with timechainindex.com recording 361,679.76 BTC on-chain. Despite these discrepancies, it’s clear that Blackrock controls a significant portion of Bitcoin’s circulating supply, held across 766 unique Bitcoin addresses. The Expansion into Ethereum and Other Digital Assets Blackrock is not limiting its digital asset investments to Bitcoin alone. The company also manages an Ethereum-based ETF known as ETHA, which, as of the latest data, holds 379,360.24 ETH. Arkham’s analytics show a marginally different on-chain amount at 373,605 ETH. This holding translates to over $1 billion in Ethereum value. Furthermore, Blackrock backs the BUIDL tokenized U.S. Treasury liquidity fund, currently valued at $513 million, showcasing its multifaceted approach in the crypto space. Blackrock’s Broad Financial Influence Outside the realm of digital assets, Blackrock continues to be a formidable force in global finance. Through its iShares brand, it commands considerable market share in ETFs, managing some of the most popular products…

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Filed under: News - @ September 27, 2024 10:25 pm