BlackRock maintained its aggressive Bitcoin accumulation strategy in June, significantly boosting its holdings amid sustained demand for its spot ETF.
Data from blockchain intelligence firm Arkham reveals that BlackRock added approximately $3.85 billion worth of Bitcoin during the month.
This substantial acquisition was carried out in multiple phases, including a notable $1.4 billion purchase spread across six consecutive days.
BlackRock’s aggressive Bitcoin investment strategy is closely tied to the soaring success of its iShares Bitcoin Trust (IBIT), which has rapidly established dominance in the U.S. spot Bitcoin ETF market. According to a July 2 report from Bloomberg, IBIT is now generating more annual revenue than BlackRock’s long-established S&P 500 ETF, IVV.
Launched in January 2024, IBIT has quickly amassed over $52.4 billion in assets under management (AUM), accounting for more than 55% of the total assets held in U.S. spot Bitcoin ETFs. It has also attracted 96% of net inflows across all Bitcoin ETFs to date and consistently leads daily fund flows among the ten approved offerings.
While IBIT’s AUM remains significantly lower than IVV’s $624 billion, it has become a more lucrative product for BlackRock. With a 0.25% expense ratio, IBIT has generated $187.2 million in annual fees—edging out IVV’s $187.1 million, which charges a much lower 0.03% fee.
IBIT recently marked a major milestone by becoming the fastest ETF in history to reach $70 billion in AUM. It achieved this feat in just 341 days, far outpacing the previous record of 1,691 days set by the SPDR Gold Shares ETF.
Currently, BlackRock’s Bitcoin holdings stand at over 696,874 BTC, valued at approximately $80.7 billion based on market prices.
