Key Points
- BlackRock’s Bitcoin ETF recently added 6,470 BTC to its holdings, bringing its total to 563,134 BTC.
- Bitcoin’s price has slightly retracted, and it remains uncertain whether its rally will continue.
BlackRock’s Bitcoin Exchange Traded Fund (ETF) recently increased its holdings by adding 6,470 Bitcoin (BTC). This addition happened after a minor dip from the cryptocurrency’s recent peak value of $109k.
On January 21, data from BitcoinTreasuries showed that iShares Bitcoin Trust’s holdings rose by 6,470 BTC, which was worth $682.43 million at the time. This addition brought their total holdings to 563,134 BTC. The value of BlackRock’s IBIT Bitcoin holdings is currently estimated at $59.4 billion based on current market prices.
IBIT’s Leading Position
BlackRock’s IBIT has been leading the majority of spot Bitcoin ETF inflows for three consecutive days. On the day of the Bitcoin purchase, IBIT recorded an inflow of $661.9 million into its fund.
BlackRock’s confidence in Bitcoin investment appears to be growing, especially after the cryptocurrency hit a new all-time high of $109,020. In fact, iShares’ Bitcoin holdings saw a significant increase in value from January 16 to 17, reaching as high as $1.3 trillion.
Bitcoin’s Market Performance
The price of Bitcoin has slightly fallen from its previous high. As of now, Bitcoin’s price is $105,477, marking a 3.7% increase in the last 24 hours of trading. Over the past week, BTC’s value has risen by more than 8%.
It is still unclear whether Bitcoin’s rally will continue following President Donald Trump’s inauguration. Many traders are anticipating further advancements in the crypto industry, such as the establishment of a national Bitcoin reserve that Trump has pledged to create to make the United States the “crypto capital” of the world.
Microstrategy, led by Michael Saylor, remains the largest corporate Bitcoin holder, having recently purchased 11,000 Bitcoin worth $1.1 billion on the day of purchase. MicroStrategy’s Bitcoin holdings total 461,000 BTC, ranking first, followed by MARA Holdings and Riot Platforms.
In December 2024, IBIT’s parent company, BlackRock, had bought $1 billion worth of Bitcoin just before a sharp decline in the BTC price.