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The Amount of Bitcoin (BTC) Collected by BlackRock is Revealed!
BlackRock's spot Bitcoin ETF has once again come to the forefront as the total supply of Bitcoin approaches 3% amid an increase in investor inflows.
According to the blockchain analysis firm Arkham Intelligence, the world's largest asset manager currently holds about 2.77% of all circulating Bitcoin; this figure corresponds to over 582,000 BTC and is currently worth approximately 56 billion dollars.
Arkham stated in a statement today that only this week, Bitcoin worth 1.2 billion dollars was added to the ETF.
Although the $12 trillion astonishing total assets managed by BlackRock overshadow Bitcoin assets, the speed and scale of the accumulation are noteworthy. On Wednesday, the iShares Bitcoin Trust (IBIT) recorded an inflow of $643 million, marking the largest single-day increase in over three months.
The increasing dominance of ETFs came immediately after BlackRock expanded its footprint in digital assets beyond the US, with the launch of BTC-based products traded on European exchanges last month.
It should be noted that BlackRock manages these assets on behalf of its clients, meaning that those investing in Bitcoin are not the company itself but its investors.
Speaking to CNBC on Thursday, Jay Jacobs, head of U.S. Equity ETFs at BlackRock, suggested that global instability has increased interest in alternative stores of value.
Jacobs said, "If there will be more uncertainty globally, then things like gold and Bitcoin should continue to rise" and added: "People will behave differently in search of these assets."