BlackRock Deepens Bitcoin Bet With Over $5.4B in Broad-Based Exposure

BlackRock has significantly strengthened its position in the Bitcoin ecosystem, with its total exposure now surpassing $5.4 billion as of the first quarter of 2025, based on figures from Timechainindex.

In the opening months of the year, the asset management giant increased its stake in the iShares Bitcoin Trust (IBIT) by over 3.2 million shares, bringing its total to approximately 5.85 million shares—valued at around $274 million. However, the more notable development is BlackRock’s decision to branch out into competing spot Bitcoin ETFs for the first time.

The firm quietly picked up nearly 71,000 shares of Fidelity’s FBTC and made smaller investments in Grayscale’s GBTC and GBTC Mini, signaling a more diversified approach to Bitcoin-linked financial products.

Altogether, these non-IBIT positions are worth more than $5 million, raising its total allocation in spot Bitcoin ETFs to roughly $279 million.

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Beyond ETFs, BlackRock is doubling down on companies directly exposed to Bitcoin. Its stake in Strategy Inc. (formerly MicroStrategy) has grown to over 14.4 million shares, alongside more than 620,000 preferred shares and close to 15 million shares through commercial notes—bringing the total value of its Strategy investment to approximately $4.23 billion.

The firm is also betting heavily on the mining sector. Its combined positions in firms like Riot Platforms, Marathon Digital, and TeraWulf now approach $1 billion, underscoring a wider commitment to multiple facets of the Bitcoin infrastructure—from institutional funds to on-chain operations.

Alexander Stefanov