BlackRock is an American multinational investment company founded in 1988. Initially established as an enterprise risk management and fixed-income institutional asset manager, BlackRock is the world’s largest asset manager. It has US$10 trillion in assets under management as of December 31, 2023. Reports now suggest that BlackRock bitcoin holdings are close to 350,000 BTC, making it the third-largest holder globally and raising concerns about centralization in the cryptocurrency.
According to the report, BlackRock, the world’s largest asset manager, has sharply raised its Bitcoin holdings, making it the third-largest Bitcoin holder globally after Satoshi Nakamoto and Binance.
On the other hand, according to Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto is listed as the top BTC holder until 2024. The brand notes that Satoshi Nakamoto holds about 1.1 million BTC tokens.
BlackRock becomes the third largest Bitcoin holder with 350,000 BTC
This significant accumulation marks a notable shift for BlackRock, especially given CEO Larry Fink’s previous distrust of Bitcoin. Now embrace it as an “international asset” with transformative potential. This shift in attitude has prompted BlackRock to become more active in the cryptocurrency market.
BlackRock introduced an EFT, the iShares Bitcoin Trust (IBIT), earlier this year that is central to this strategy. Now this report shows that this fund has quickly gained popularity among institutional investors looking for a secure and regulated way to invest in bitcoin.
Consequently, BlackRock’s Bitcoin holdings have surged, placing it third behind Satoshi Nakamoto’s estimated 1.1 million BTC and Binance’s 550,000 BTC.
Significant financial institutions such as Capula Management, Goldman Sachs, and DRW Capital are now investing in BlackRock’s Bitcoin ETF. This increasing interest from conventional financial entertainers underlines the growing approval of Bitcoin as a mainstream asset.
Nevertheless, BlackRock’s Bitcoin ETF has still drawn more than $20 billion in net assets over its lifetime. At the same time, it stays the top spot bitcoin fund with more than 350,000 BTC under leadership, making it one of the biggest institutional bitcoin holders.
