BlackRock Bitcoin ETF Buys $505.7 Million in Two Days, Holdings Reach $59.31 Billion

JOON HYOUNG LEE

Summary

BlackRock bought an additional $505.7 million worth of Bitcoin through its ETF over the past two days.
BlackRock now holds $59.31 billion worth of Bitcoin bought with client funds, with an average purchase price of about $89,000.
The on-chain analytics firm said BlackRock's Bitcoin ETF holdings have increased by more than $11 billion from their low, while Bitcoin has reclaimed the $75,000 level.

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BlackRock Inc., the world's largest asset manager, bought $505.7 million worth of Bitcoin through its exchange-traded fund over the past two days.

Arkham, an on-chain analytics firm, said May 15 that BlackRock's spot Bitcoin ETF added $505.7 million of Bitcoin over the past 48 hours. The fund now holds $59.31 billion of Bitcoin bought with client money, with an average purchase price of about $89,000, Arkham said.

BlackRock's Bitcoin ETF holdings hit a low on Feb. 25. Since then, they have increased by more than $11 billion, according to Arkham.

Bitcoin rose on the day and reclaimed the $75,000 level. It was trading at $70,055.09 as of 3:17 p.m., up 1.44% from a day earlier, according to CoinMarketCap.

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