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ZEC $1,333 Over $1.5 Billion in Bitcoin Tops BlackRock Holdings in One Month
BlackRock's bitcoin funds bought a net $1.57 billion over the past month, lifting holdings to 801,769 BTC, according to Arkham Intelligence data.
Key takeaways
- The month's total. BlackRock bought a net $1.57 billion worth of bitcoin over the past month through its bitcoin funds.
- Holdings now. BlackRock holds up to 801,769 BTC, worth about $67.87 billion at bitcoin's current price.
- Portfolio share. Bitcoin accounts for over 87% of BlackRock's $77.93 billion tracked crypto portfolio.
What happened
BlackRock has expanded its bitcoin holdings after a month of consistent inflows through its bitcoin funds. According to data from Arkham Intelligence, the firm bought a net total of $1.57 billion worth of bitcoin over the past month and kept buying on most ETF trading sessions.
The latest purchase carried a sum of $195.6 million worth of BTC. It followed bitcoin's rebound above $84,000, which the report said suggested the rally had ignited fresh interest from institutional investors.
The purchase activity was visible onchain. A series of bitcoin transfers moved in batches of 300 BTC between a Coinbase hot wallet and a wallet linked to BlackRock.
Arkham Intelligence tracks the wallets tied to the asset manager. The report said the latest data shows BlackRock has continued to buy bitcoin on most ETF trading sessions over the past month.
Why it matters
After adding over $1.5 billion worth of bitcoin to its holdings, BlackRock now holds up to 801,769 BTC. At bitcoin's current price, that position is worth about $67.87 billion.
Bitcoin makes up the largest part of BlackRock's $77.93 billion tracked crypto portfolio, accounting for over 87% of the firm's total holdings. Ethereum followed, with $10.06 billion worth of ETH.
The share figure matters because bitcoin sits well ahead of Ethereum inside the same tracked portfolio. That leaves bitcoin as the single largest crypto position the report attributes to the firm.
What the data shows
The month's net purchase was $1.57 billion worth of bitcoin. The latest single purchase was $195.6 million, made after bitcoin rebounded above $84,000. Holdings now stand at up to 801,769 BTC, worth about $67.87 billion at the current price.
BlackRock's tracked crypto portfolio totals $77.93 billion. Bitcoin accounts for over 87% of the firm's total holdings, while Ethereum makes up $10.06 billion of the portfolio.
Background
BlackRock's spot bitcoin ETF, IBIT, continues to attract fresh capital from investors, the report said. The report added that the accumulation has fortified BlackRock's position as a dominant fund in the bitcoin ETF market.
Questions readers ask
How much bitcoin did BlackRock buy in the past month?
BlackRock bought a net total of $1.57 billion worth of bitcoin over the past month, according to Arkham Intelligence data. The firm kept buying on most ETF trading sessions during that period.
What share of BlackRock's crypto portfolio is bitcoin?
Bitcoin accounts for over 87% of BlackRock's $77.93 billion tracked crypto portfolio. Ethereum follows with $10.06 billion worth of ETH.
What was BlackRock's latest bitcoin purchase?
The latest purchase carried a sum of $195.6 million worth of BTC. It came after bitcoin rebounded above $84,000.
