BlackRock Ends 2025 With 771K Bitcoin as CEO Larry Fink Eyes $700K BTC

BlackRock ended 2025 with approximately 771,000 Bitcoin in its iShares Bitcoin Trust (IBIT), the largest U.S. spot Bitcoin ETF. The fund's holdings totaled about $67.49 billion, representing nearly all of its portfolio according to reports.

The year marked a significant shift for BlackRock as it moved from skepticism to becoming a major institutional buyer of Bitcoin. CEO Larry Fink acknowledged institutional demand for Bitcoin was growing and positioned it as a hedge against inflation and political instability according to analysis.

BlackRock’s Bitcoin ETF outperformed many of its long-standing products in profitability and became one of the most liquid exchange-traded products in the market.

Why Did BlackRock Expand Its Bitcoin Holdings?

BlackRock’s increased Bitcoin exposure in 2025 reflected a broader institutional shift. From January to December 2025, the value of its Bitcoin holdings grew from $51 billion to $67 billion, a 31% increase.

The firm also significantly boosted its Ethereum exposure, with holdings tripling in value over the year according to data.

Larry Fink attributed the firm’s Bitcoin strategy to client and policymaker discussions, which changed his initial views. BlackRock’s digital asset strategy is now anchored in the long-term adoption of Bitcoin.

How Did Institutional Investors Respond to BlackRock's ETF?

BlackRock’s iShares Bitcoin Trust attracted strong inflows in late 2025. On a single day in December, the fund received over $143 million in new capital, breaking a streak of outflows.

The ETF’s success reflects broader institutional confidence in Bitcoin. By the end of 2025, it had attracted nearly $63 billion in net inflows since its launch according to reports.

Other competitors such as Fidelity and Grayscale also saw significant inflows, but BlackRock’s product remained the largest by asset size and volume according to analysis.

What Does This Mean for Bitcoin's Price and Market Structure?

BlackRock’s growing Bitcoin holdings came despite a year in which Bitcoin’s price faced volatility. The asset’s price peaked above $90,000 but experienced consolidation in late 2025.

Larry Fink noted that if institutional investors allocated 2% to 5% of their portfolios to Bitcoin, it could drive prices toward $700,000.

The firm’s ETF and broader digital strategy are also shaping the institutional adoption of tokenization. BlackRock has launched the BUIDL fund, focused on tokenizing real-world assets, as part of its digital finance strategy.