BlackRock iShares Bitcoin Trust (IBIT) reigns supreme on the BTC ETF market. The asset manager has released its latest figures detailing the current holdings in Bitcoin. Per the product page on its website, the total holdings have grown to over 342,000 BTC.
BlackRock’s record-breaking Bitcoin holdings
Notably, the total current holding stands at 342,658.96610 BTC, based on when the market price traded for $65,770 per BTC. At this value, BlackRock’s Bitcoin holding is a massive $22,537,283,282.30 as of July 31, 2024.
This signifies a major win for BlackRock and comes a couple of weeks after U.Today reported that the CEO, Larry Fink, now considers himself a “major Bitcoin believer.” This represents a pivotal shift from his earlier stance on the digital asset. However, Fink claims to have realized that Bitcoin is authentic regardless of some apparent misuse of the world’s leading cryptocurrency.
In the meantime, as for its holdings in USD Cash, BlackRock holds a significant 325,375.08 in its portfolio.
Based on data, BlackRock witnessed a bullish run in July, as evidenced by the $525.5 million worth of Bitcoin ETF inflows on July 23. Based on analysis, it registered as one of the peak performances for the asset manager.
BlackRock’s expansion into Ethereum ETFs
In a significant move, the financial behemoth joined other asset managers to launch a spot Bitcoin ETF in January, which has largely remained successful. Meanwhile, having recorded massive success with Bitcoin ETFs, BlackRock wasted no time in filing for a spot Ethereum ETF.
Last month, the company’s spot Ethereum ETF debuted for trading along with eight other companies.
Market observers remain keen on seeing how the asset will perform and if its success will mirror that of the Bitcoin ETF. Analysts are betting on BlackRock to invest funds in Ethereum just as it did with Bitcoin. However, they acknowledge that the growth trajectory may be slower.
