BlackRock holds $60 billion in Bitcoin, becoming one of the biggest institutional holders

From Investing.com

January 24, 2025 2:30:23 pm:

BlackRock now holds a staggering $60 billion in Bitcoin through its iShares Bitcoin Trust, with 574,118.84380 BTC on the balance sheet. Recent data shows Bitcoin ETFs received $188.7 million, with BlackRock alone getting $154.6 million — 81% of net inflows.

BlackRock has become one of the biggest institutional holders of Bitcoin, surpassing MicroStrategy. CEO Larry Fink’s bullish price target of $700,000 suggests Bitcoin’s potential to soar if more institutions adopt it, with plans to allocate 2% to 5% of assets to Bitcoin.

BlackRock’s $4 billion ETHA ETF indicates a broader strategy to invest in digital assets like Bitcoin and Ethereum, signaling confidence in blockchain’s future despite regulatory uncertainties.

With a $60 billion investment in Bitcoin, BlackRock could reshape money flows and price dynamics, accounting for 2.7% of the entire cryptocurrency supply. Despite market fluctuations, IBIT ETF is attracting steady inflows, reflecting growing institutional interest in Bitcoin.

Market analysts note BlackRock’s significant Bitcoin investment could impact market dynamics, though macroeconomic challenges and regulatory issues remain key concerns amidst institutional adoption.

Read more at Investing.com: BlackRock Hits Historic BTC Milestone By U.Today