Pearl
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Monad
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Walrus
Zcash
Key Insights:
- BlackRock now holds over 737,000 Bitcoin after latest inflow.
- Firm added 1,204 BTC worth $142 million.
- BTC accumulation continues amid rising de-dollarization concerns.
BlackRock purchased 1,204 BTC worth $142 million, bringing its total holdings to 737,000 BTC. The move underscores rising institutional demand amid de-dollarization and Ethereum ETF anticipation.
BlackRock increases Bitcoin exposure with fresh $142M buy
BlackRock has continued its aggressive Bitcoin accumulation, adding another 1,204 BTC to its iShares Bitcoin Trust (IBIT) holdings. The transaction brings its total Bitcoin stash to over 737,000 BTC, according to data shared by Bitcoin researcher Thomas Fahrer on July 24.
The latest purchase, worth around $142 million, signals sustained demand from one of the world’s largest asset managers. With the new inflow, BlackRock’s IBIT remains the largest spot Bitcoin exchange-traded fund (ETF) by BTC holdings since the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in Jan. 2024.
“BlackRock buys 1,204 Bitcoin,” Fahrer posted on X, and a chart showing daily and cumulative inflows into IBIT. Based on BTC Wealth data, the visual confirms a consistent accumulation trend, with only a few daily outflows since inception.
ETF inflows continue despite market pullback
On-chain and ETF tracking data show that institutional appetite for Bitcoin remains intact despite recent volatility.
As of July 24, IBIT has seen consistent inflows for over two weeks, even as Bitcoin trades below its March all-time high near $73,800. Fahrer’s chart highlights a steady uptrend in holdings, with multiple 6,000–8,000 BTC daily inflow events recorded since May.
A separate report from Coinvo noted: “BlackRock just bought 1,204 BTC worth over $142 million,” further corroborating the purchase. These inflows come during a broader consolidation phase, with BTC struggling to break above the $70,000 resistance level.
IBIT’s inflows contrast with outflows seen in other spot Bitcoin ETFs, suggesting a possible rotation of institutional capital into BlackRock’s product or greater investor confidence in its custodial framework.
Ethereum joins the mix as BlackRock buys the dip
While BlackRock’s Bitcoin holdings lead headlines, the firm also appears to be quietly accumulating Ethereum.
CryptoGoos reported that BlackRock recently purchased $332.2 million worth of Ethereum, describing the move as “buying the dip.” Though the firm has not publicly disclosed the ETH purchase, the report indicates that BlackRock may be preparing for broader exposure to digital assets beyond Bitcoin.
The timing coincides with rising anticipation for a potential Ethereum spot ETF approval in the United States. Industry observers expect the U.S. Securities and Exchange Commission to greenlight Ethereum ETFs for trading by late July or early Aug., potentially unlocking a new wave of institutional inflows.
De-dollarization drives Bitcoin demand among institutions
BlackRock’s push into Bitcoin comes amid a shifting macroeconomic backdrop.
According to a recent note, the $12.5 trillion asset manager attributed increasing interest in Bitcoin to de-dollarization trends among central banks. The firm observed that central banks are moving away from the U.S. dollar in favor of assets like gold and, increasingly, Bitcoin.
“Central banks are shifting toward other currencies and alternative assets such as gold, with consideration for Bitcoin,” the note stated, as cited by Whale Insider.
The comment aligns with a broader narrative of declining U.S. dollar dominance in global reserves, particularly among emerging market economies. As geopolitical tensions rise and debt levels surge, institutions appear more open to allocating to scarce, non-sovereign assets.
Bitcoin ETF arms race heats up
Since the approval of spot Bitcoin ETFs in Jan., competition among issuers has intensified. BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC have emerged as the top contenders for institutional capital.
While Grayscale has seen net outflows since converting from a trust, BlackRock’s IBIT has quickly scaled to the top, benefiting from its low fees, daily liquidity, and institutional brand reputation.
Market observers now await ETF inflow updates at the end of July, with speculation that Bitcoin could revisit its all-time high if momentum resumes. However, as of now, BTC remains below $70,000, consolidating in a range and struggling to attract retail participation at previous levels.
Still, with 737,000 BTC under custody, BlackRock’s strategy remains clear: accumulate on dips, hold, and wait.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
