BlackRock’s spot Bitcoin ETF (IBIT) is rapidly accumulating Bitcoin, with its holdings now representing nearly 3% of the cryptocurrency’s total supply, according to data from Arkham Intelligence. The firm reported on Friday that BlackRock now holds 2.77% of all Bitcoin, having added another $1.2 billion worth of the digital asset this week alone.
While BlackRock manages these assets on behalf of its clients, the significant accumulation underscores the growing institutional demand for Bitcoin. On Wednesday, IBIT, the world’s largest spot Bitcoin ETF by assets under management, saw its largest single-day inflow in 13 weeks, attracting $643 million. As of Friday, BlackRock’s Bitcoin holdings surpassed 582,000 BTC, valued at approximately $56 billion.
Following the success of its U.S. ETF, BlackRock also launched a Bitcoin-based exchange-traded product in Europe last month, further expanding its reach in the digital asset space. Despite the substantial Bitcoin holdings, IBIT still represents a small fraction of BlackRock’s nearly $12 trillion in overall assets under management.
This week, MicroStrategy Chairman Michael Saylor predicted that IBIT could become the world’s largest exchange-traded fund within the next decade. Saylor’s company currently holds around 538,000 Bitcoin, valued at roughly $51.4 billion.
Bitcoin was trading at $95,401.74 as of 11:52 a.m. ET on Friday, according to The Block Price Page. .
