BlackRock Crypto Portfolio Jumps 62% in Third Quarter, Bitcoin Holdings Top 800,000
Summary
- BlackRock’s cryptocurrency holdings value rose about 62% in the third quarter to roughly $77.1 billion, according to the report.
- The report said Bitcoin holdings in BlackRock’s spot ETF iShares Bitcoin Trust (IBIT) increased to about 801,270 BTC.
- Over the same period, Bitcoin’s price climbed more than 42%, from $58,564 to around $84,000, contributing to the expansion in BlackRock’s holdings.
Forecast Trend Report by Period
The value of BlackRock’s cryptocurrency holdings rose about 62% in the third quarter of this year, while its Bitcoin holdings surpassed 800,000.
Finbold reported on October 30, citing data from blockchain analytics platform Arkham, that BlackRock’s crypto holdings increased to about $77.1 billion from $47.56 billion on July 1. That was a gain of about $29.54 billion, or 62.1%.
Bitcoin holdings in BlackRock’s spot Bitcoin exchange-traded fund, the iShares Bitcoin Trust (IBIT), also increased to about 801,270 from about 738,200 at the start of the third quarter. That was an increase of about 63,070 over three months, or 8.5%.
Over the same period, Bitcoin rose more than 42% to around $84,000 from about $58,564. The increase in BlackRock’s Bitcoin holdings and the rise in Bitcoin’s price both contributed to the expansion of the asset manager’s crypto portfolio.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.