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BlackRock's ETF Holds 370,000 BTC Worth $23 Billion, Now Third Largest Bitcoin Holder

Oct 6, 2024, 11:01 AM

BlackRock, the world's largest asset manager, has significantly increased its Bitcoin holdings, now managing nearly 370,000 BTC worth approximately $23 billion through its Bitcoin ETF. This accumulation surpasses MicroStrategy's holdings and positions BlackRock behind only Satoshi Nakamoto and Binance in terms of Bitcoin held. The firm is on track to acquire 400,000 BTC in its first year. Institutional interest is further underscored by BlackRock presenting on Bitcoin and the 'history of money' to investors. US Bitcoin ETFs collectively now hold nearly 5% of the total Bitcoin supply, reflecting growing institutional adoption. Bitwise's Bitcoin ETF also contributed to this trend by purchasing $15.3 million worth of BTC recently. Bitcoin has been trading in the $55,000 to $70,000 range for the past nine months amid increasing global liquidity.