In January of this year, the US Securities and Exchange Commission (SEC) approved the first crypto-based ETF in the United States. With a plethora of issuers for the inaugural Spot Bitcoin ETF, BlackRock was among the most notable, with many pondering just how much BTC the asset manager holds in 2024.
BlackRock stands alone in regard to traditional finance firms that have turned to Bitcoin this year. Indeed, the $10 trillion asset manager’s CEO, Larry Fink, went as far as to call the leading crypto ‘digital gold.” Thus, clearly reinforcing his belief in its staying power amid a shifting finance sector.
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BlackRock Has Bought How Much Bitcoin in 2024 So Far?
Bitcoin has dominated 2024 so far. The asset has continued to prove its worth as the cryptocurrency sector has received growing interest. In March of this year, the token reached an all-time high of $73,000. Yet, many believe that record could be in jeopardy with October gains right around the corner.
With Bitcoin’s immense prominence, and BlackRock’s renewed interest, just how much BTC has the firm acquired in 2024? The $10 trillion asset manager launched its iShares Bitcoin Trust ETF (IBIT) in January, and has seen its Bitcoin holdings increase along with its continued rise.
Source: Financial News London
Also Read: Tether Generated More Profit Than BlackRock in 2023
According to Apollo Bitcoin Tracker data, BlackRock currently holds 359,278 BTC. Moreover, that stash currently holds a value of more than $22.9 billion. However, that figure is expected to increase throughout this year. This is especially true as the firm’s ETF continues to be among the most successful.
Over the last 24 hours, BlackRocks IBIT ETF has seen more than $99 million worth of Bitcoin inflows. That is the highest it has seen in 30 days. Moreover, the supply jumped from 357,730 BTC to its current holdings. That being said, the BlackRock BTC stash should continue to increase well into 2025.
