BlackRock Hits $60 Billion in Bitcoin ETFs

• BlackRock steps up Bitcoin purchases
• Highlight in ETFs reinforces institutional potential
• Larry Fink predicts possible target of $700

BlackRock has hit a new milestone by consolidating over $60 billion worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT). In recent weeks, the firm has seen a surge in inflows into the ETF, surpassing 574 BTC in its portfolio and highlighting the interest of institutional players in cryptocurrencies.

BLACKROCK IS BACK.

THEY JUST BOUGHT $600 MILLION OF BITCOIN, THEIR LARGEST BUY SO FAR THIS YEAR. pic.twitter.com/QLAm5eaik4

— Arkham (@arkham) January 22, 2025

A recent report showed that Bitcoin ETFs totaled US$188,7 million in investments, with BlackRock accounting for US$154,6 million, representing approximately 81% of the total. This movement reinforced the manager's leading role as one of the largest holders of the asset, even surpassing well-known companies in the crypto universe.

At the time of publication, the price of Bitcoin was quoted at US$106.697, up 0.7% in the last 24 hours.

BlackRock CEO Larry Fink has raised concerns about Bitcoin’s bullish potential, indicating that if more institutions adopt the cryptocurrency, the price could reach $700. Although the market is still showing fluctuations, many observers believe that BlackRock’s prominent position could influence BTC’s evolution.

*BLACKROCK'S FINK: “If you're frightened of the debasement of your currency, or… of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.. [BTC] could be $500k, $600k, $700k…” pic.twitter.com/HxDLWnbYz6

— Alex Thorn (@intangiblecoins) January 22, 2025

“While everything else is going on, spot Bitcoin ETFs have quietly taken in $3,7 billion in the last 6 days… $3,7 billion. That’s a ridiculous number.” This observation, made by an industry expert, highlights the significant volume of inflows into ETFs in the period.

Amid this expansion, BlackRock continues to diversify its acquisitions, while other asset managers follow suit with similar initiatives. At the same time, crypto enthusiasts note that assets like DOGE remain on the radar of many investors, although the company's main focus remains on BTC.

Some of the optimism is influenced by the macroeconomic scenario and recent political movements. Some see BlackRock's stance as a sign of credibility for the sector, since adoption by large institutions reinforces the perception that Bitcoin can be considered a store of value in the long term.

For now, analysts are closely monitoring the evolution of ETFs and the performance of global asset managers. The growth in trading volume, combined with ambitious projections from market leaders, supports the expectation of greater institutional participation in the crypto universe, especially with regard to Bitcoin.