BlackRock significantly bolstered its Bitcoin holdings with the acquisition of approximately 3,478 BTC valued at $416 million, bringing its total portfolio to 716,500 BTC worth $85.4 billion.
This accumulation means BlackRock now controls an estimated 3.6% of the total circulating Bitcoin supply, exceeding the holdings of major cryptocurrency exchange Binance and also surpassing the estimated holdings of Bitcoin’s pseudonymous creator, Satoshi Nakamoto.
The buying pressure was largely fueled by substantial demand for BlackRock’s IBIT spot Bitcoin ETF, which recorded a single-day inflow of $764 million.
This contributed to a 10-day consecutive streak of inflows for all U.S.-listed spot Bitcoin ETFs, totaling net inflows of $799.4 million during this period. Collectively, spot Bitcoin and Ethereum ETFs have attracted over $20 billion in inflows since April.
The intense ETF-driven demand was a key factor propelling Bitcoin’s price to surge past $123,000, marking a significant market milestone, before the asset stabilized near $118,620.
Analysts suggest these sustained institutional inflows are enhancing market stability and maturity, providing a more robust framework for large-scale investment in digital assets.