BlackRock Boosts Bitcoin Holdings to $22.9B After ETF Surge

After the SEC approved the first-ever spot Bitcoin ETFs in January 2024, including BlackRock's, the asset manager has steadily increased its Bitcoin holdings.

BlackRock now holds 359,278 BTC, valued at about $22.9 billion, according to data from September 25.

In a single day, the fund added 1,548 BTC ($99 million), bringing its holdings from 357,730 BTC on September 23 to 359,278 BTC by September 24.

This places BlackRock ahead of other Bitcoin ETF managers, such as Grayscale with 221,043 BTC, Fidelity at 177,224 BTC, and ARK Invest with 46,614 BTC.

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BlackRock’s Head of Digital Assets, Robbie Mitchnick, described Bitcoin as an emerging global monetary alternative, emphasizing its decentralized and non-sovereign nature, free from country-specific or traditional counter-party risks.

He clarified that Bitcoin is often misunderstood as a “risk-on” asset when it should be considered “risk-off” due to its scarcity and insulation from fiscal challenges like currency debasement and political instability.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.