Bitcoin News Today: BlackRock Boosts Bitcoin Holdings by 3.6% of Circulating Supply

BlackRock, the world's largest asset manager, has significantly increased its Bitcoin holdings, acquiring thousands of Bitcoins as inflows into its iShares Bitcoin Trust (IBIT) ETF surge. This move comes amidst a broader trend of sustained institutional demand for Bitcoin, with BlackRock's holdings now totaling $85 billion. The increase in Bitcoin purchases by BlackRock reflects a growing institutional interest in cryptocurrencies, driven by the potential for high returns and the diversification benefits they offer.

The latest move by BlackRock involves the purchase of another $416 million of Bitcoin, estimated to be around 3,478 BTC based on prices at the time of acquisition. This acquisition continues a month-long accumulation streak that included a $216 million addition just over a week ago. The firm’s giant portfolio now stands at approximately 716,500 BTC, worth roughly $85.4 billion at current prices. This translates to 3.6% of the entire circulating Bitcoin supply, making BlackRock one of the largest holders globally.

BlackRock’s aggressive accumulation comes as demand for IBIT continues to grow, leading the broader U.S.-listed spot BTC ETFs in daily inflows. In the latest data, the ETFs recorded a combined $799.4 million in inflows. Once again dominated by IBIT with a lion’s share of approximately $764 million, the inflows extended the funds’ winning streak to ten days. The surge in demand comes as Bitcoin itself reaches new highs, recently breaking above $123,000 during the latest market rally.

The streak of wins has positioned the funds as the best-performing in recent months, topping global charts since April alongside their Ethereum counterparts. These spot crypto ETFs recorded $20 billion in inflows during this period, more than any other ETF category. Analysts credit the surge in spot ETF demand as the key driver behind Bitcoin’s rally, fueling a steadier stream of capital into the market. Unlike past runs powered by retail speculation, Bitcoin ETFs are bringing in consistent institutional flows that provide stronger, more sustainable support.

Expectations for the positive inflows trend to continue are driving bold price forecasts for BTC, with predictions rolling that the asset giant could reach $200,000 by year-end. At the time of writing, Bitcoin trades at slightly over $118,620, up roughly 1% over the past day. The surge in inflows into the IBIT ETF is a clear indicator of the rising institutional appetite for Bitcoin. BlackRock's decision to ramp up its Bitcoin purchases is likely motivated by the ETF's performance and the overall positive sentiment surrounding cryptocurrencies. The ETF's inflows have been sustained, suggesting that institutional investors are increasingly viewing Bitcoin as a viable asset class.

BlackRock's move to increase its Bitcoin holdings is part of a broader trend of institutional adoption of cryptocurrencies. The asset manager's decision to acquire thousands of Bitcoins is a significant development, as it signals a growing acceptance of cryptocurrencies by traditional financial institutions. This trend is likely to continue, as more institutions seek to capitalize on the potential of cryptocurrencies. The sustained inflows into the IBIT ETF are a testament to the growing institutional demand for Bitcoin. The ETF's performance has been strong, with inflows continuing to rise despite market volatility. This suggests that institutional investors are increasingly viewing Bitcoin as a valuable asset, and are willing to invest in it despite the risks involved.

BlackRock's decision to ramp up its Bitcoin purchases is a significant development in the cryptocurrency market. The asset manager's move to acquire thousands of Bitcoins is a clear indication of the growing institutional interest in cryptocurrencies. This trend is likely to continue, as more institutions seek to capitalize on the potential of cryptocurrencies. The sustained inflows into the IBIT ETF are a testament to the growing institutional demand for Bitcoin, and suggest that the cryptocurrency market is poised for further growth.