BlackRock Holds 11,439 BTC as Collateral for Physical Bitcoin ETF

Uncover the details of BlackRock's significant Bitcoin investment, securing 11,439 BTC for its iShares Bitcoin Trust.

Learn about the ETF's initial success and CEO Larry Fink's insights on Bitcoin and Ethereum ETFs in this in-depth exploration.

BlackRock's Asset Management and the iShares Bitcoin Trust (IBIT)

The world's largest asset management company, BlackRock, has been revealed to hold approximately $498 million worth of Bitcoin, equating to 11,439 BTC, as collateral for its physical Bitcoin ETF.

BlackRock issues a physical Bitcoin ETF under the name "iShares Bitcoin Trust (IBIT)." As per the details mentioned on the page describing IBIT, it is noted that as of January 12, 2024, the company holds 11,439 BTC to back the value of IBIT.

The Inflow of Funds into IBIT: A Two-Day Snapshot

The initial inflow of funds into the iShares Bitcoin Trust (IBIT) was reported to be around $1.17 billion on its first day. Subsequent reports indicated that the inflow into IBIT over two days was approximately $500 million.

The two-day inflow amount of about $500 million nearly matches the BTC collateral amount for IBIT.

This alignment demonstrates that BlackRock has secured the necessary Bitcoin to offer its physical Bitcoin ETF.

As trading in the physical Bitcoin ETF has just begun, it is anticipated that if more ETF products are purchased, BlackRock's holdings in Bitcoin could further increase.

Larry Fink, the CEO of BlackRock, has expressed his views on Bitcoin and Ethereum ETFs in a CNBC program.

He mentioned, "Bitcoin is an asset class that can protect you," and also commented, "I believe there is value in an Ethereum ETF."

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