BlackRock Adds $970M in Bitcoin as ETF Rivals See Major Outflows

On a day when top crypto ETF providers like Fidelity, ARK Invest, and Grayscale reported significant Bitcoin outflows, BlackRock made a bold move—adding over 10,000 BTC to its holdings. According to on-chain data from Lookonchain, Fidelity saw 917 BTC in outflows, ARK 21Shares lost 2,389 BTC, and Grayscale withdrew 103 BTC. Combined, these outflows totaled more than 3,400 BTC.

In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) added 10,249 BTC in a single day—worth approximately $970 million at current prices. With this move, BlackRock's ETF holdings have surged to nearly 599,000 BTC, making it the largest U.S. spot Bitcoin ETF by assets under management.

What’s even more noteworthy is that BlackRock’s direct wallet holdings now stand at 582,614 BTC, valued at over $55 billion. This suggests the firm’s total exposure to Bitcoin is not only rising rapidly, but also far outpacing its competitors. Unlike speculative retail bets, BlackRock’s accumulation reflects rising investor demand for IBIT shares, which compels the firm to purchase and custody equivalent Bitcoin to back its ETF product.

This sharp divergence is especially significant on a red day for the broader crypto ETF market. It could indicate shifting investor sentiment or confidence in BlackRock’s long-term crypto strategy. A similar trend was seen in Ethereum ETFs, with Grayscale recording outflows, while BlackRock’s ETHA ETF added over 37,000 ETH in a day.

As institutional interest grows, BlackRock’s aggressive accumulation may signal broader confidence in Bitcoin’s upside—even as other issuers pull back. For now, it’s clear that the world’s largest asset manager is not just participating in crypto markets—it’s leading them.