Guess who came back and bought more Bitcoin? It’s BlackRock taking a bolder approach to the world’s best digital assets.
According to recent Arkham Intelligence tracking, BlackRock He reportedly bought $600 million from Bitcoin On January 22, the most important purchase of the year. Arkham added that this latest acquisition pushes the company’s holdings to 569,343 Bitcoins, currently valued at $58.32 billion.
In addition to Bitcoin, BlackRock holds other digital assets, including 74.5 million USDC tokens, $3.7 billion worth of ether, and coins such as UBXS, Colle AI, MOG, TUA, and SPX6900.
Source: Arkham Intelligence
BlackRock leads Bitcoin buying in the last 7 days
This year, BlackRock’s aggressive acquisition of Bitcoin is off to a scorching start. Lookonchain revealed on Twitter/X that among all funds, Ishares BlackRock receives the most Bitcoin inflows.
The Bitcoin Mini Trust comes next, with a total of 208 Bitcoins, and then it is followed by the Bitcoin Mini Trust, which received 165 Bitcoins on the same day.
January 22 update:
10 #bitcoin ETFs
Netflow: +6,719 $BTC(+$700.94M)🟢#BlackRock(iShares) flows 6,208 $BTC($647.67 million) and currently owns 569,343 $BTC($59.4 billion).9 #ethereum ETFs
Netflow: +18,108 $eth(+$59.59M)🟢#BlackRock(iShares) flows 16,959 $eth($55.81 million) and is currently… pic.twitter.com/i2ean9iabf– Lookonchain (@swearonchain) January 22, 2025
Looking at seven-day net flow, BlackRock is still the best player in the industry. During this period, BlackRock’s Ishares Fund held 15,351 Bitcoin, double the numbers provided by the Fidelity Wise Origin Bitcoin Trust. AKR21 shares were also the best performers in the past seven days, adding nearly 4,000 BTC to its holdings.
BlackRock is adding a large number of ETH to grow its holdings
BlackRock’s holdings also include other digital assets, including ETH. In the same data shared by Lookonchain, BlackRock added about 58 ETH but is lagging behind in its acquisition of Vaneck, with the token purchasing 732 ETH in the past seven days.
Although BlackRock is adding a large number of tokens, its investments in Bitcoin matter to the industry. A company’s Bitcoin purchases are often a measure of market performance. Since the launch of SPOT Bitcoin ETFs in January 2024, BlackRock has consistently led the segment with aggressive buying.
BlackRock CEO Larry Fink on Bitcoin:
“If everyone adopted a 2% or 5% allocation, you could see Bitcoin at $700,000.”
It’s unbelievable how far Bitcoin has come. 🟠 pic.twitter.com/psxp3aq4wi
– Geiger Capital (@geiger_capital) January 22, 2025
Fink remains bullish on BTC, targeting $700k
Bitcoin is currently trading at $104,000, which is just below yesterday’s closing price. However, analysts are optimistic about Bitcoin’s price trajectory based on its recent success. BlackRock CEO Larry Fink has shown confidence in the potential price of Bitcoin.
Fink told the World Economic Forum that Bitcoin is becoming more popular among international asset management firms and investment funds. According to Fink, these companies want Blackrock’s opinion on Bitcoin. If everyone owned Bitcoin and contributed 2% to 5%, the industry would reach $700,000, Fink continued.
Additionally, Fink emphasized that they are not bringing back Bitcoin, but rather highlighted its potential. Bitcoin could see some improvement under Trump, according to Samara Cohen, another BlackRock official. According to Cohen, Bitcoin is doing well in the market under Trump’s leadership. Once the regulations are clear, Cohen predicts a banner year for Bitcoin.
Featured image from Reuters, chart from TradingView