BlackRock's Bitcoin Bonanza: $3.85 Billion Bought in June Alone!

Wall Street Giant Goes All-In on Crypto

Holy cow, BlackRock just can't get enough of that sweet, sweet Bitcoin! They've been gobbling up billions worth of the digital gold throughout June, and it doesn't look like they're slowing down anytime soon.

Listen up, folks! According to the brainiacs over at Arkham, BlackRock went on a Bitcoin buying spree last month, snagging a whopping $3.85 billion worth of BTC. That's right, you heard me, $3.85 BILLION!

And get this, they didn't just drop it all in one go. No, sir! They spread it out over the month, including a mind-blowing $1.4 billion purchase that they made over six straight days. These guys are playing for keeps!

BlackRock bought $3.85 BILLION USD of Bitcoin in June.

How much will they buy in July? That's the million-dollar question, folks!

IBIT: The Bitcoin ETF That's Shaking Up the Market

But wait, there's more! BlackRock's Bitcoin bet isn't just some lone wolf move. It's all part of their master plan to dominate the U.S. spot Bitcoin ETF space with their iShares Bitcoin Trust (IBIT). And guess what? It's working like a charm!

IBIT, which only launched back in January 2024, has already racked up over $52.4 billion in assets under management (AUM). That's more than half of all the assets in the entire U.S. spot Bitcoin ETF market! And get this, it's responsible for a whopping 96% of all the net inflows across all Bitcoin ETFs to date. These guys are cleaning up!

Now, I know what you're thinking. "But wait, doesn't BlackRock's S&P 500 ETF, IVV, have way more assets?" And you'd be right, IVV's got a cool $624 billion in total assets. But here's the kicker: IBIT is actually bringing in more annual revenue for BlackRock. Thanks to its 0.25% expense ratio, IBIT has raked in a staggering $187.2 million in annual fees, just barely edging out IVV's $187.1 million. And IVV only charges 0.03%! It's all about that bottom line, baby!

And if that wasn't enough, IBIT just hit another insane milestone. It became the fastest exchange-traded fund in history to surpass $70 billion in assets under management. They did it in just 341 days, blowing away the previous record of 1,691 days set by the SPDR Gold Shares ETF. These guys are on fire!

So, what's the grand total? As of right now, BlackRock's BTC portfolio is sitting pretty with over 696,874 Bitcoin, valued at a cool $80.7 billion at current market prices. Not too shabby for a bunch of Wall Street suits, huh?