BlackRock’s Cryptocurrency Holdings Reach New Heights: 362,193 BTC
BlackRock, the world's largest asset management firm, now holds a staggering 362,193 Bitcoin (BTC), worth approximately $23.79 billion. This places BlackRock well ahead of its closest competitor, Grayscale, by over 100,000 BTC.
BlackRock’s aggressive move into Bitcoin isn’t a mystery. According to the fund's head of digital assets, Bitcoin is viewed as a scarce, decentralized, global asset. Unlike traditional financial instruments, BTC carries no country or counterparty risk. For a $10 trillion asset manager like BlackRock, Bitcoin is seen more as "digital gold" than a volatile tech stock.
Beyond Bitcoin, BlackRock has also made strides into Ethereum (ETH). The firm recently launched its spot Ethereum ETF, adding to its growing crypto portfolio. While Ethereum ETFs haven't garnered the same level of excitement as Bitcoin-focused funds, the amount of ETH in BlackRock's possession continues to rise. It’s uncertain how fully BlackRock will embrace Ethereum, but the trend is promising.
