BlackRock fuels BTC stash with another $126M, closes in on Satoshi as ETF booms

The asset manager is not slowing down on its accumulation and is growing its stash by the day.

BlackRock recently bought another 1,136 Bitcoin (BTC), valued at approximately $126.3 million. The purchase marks the latest in a quiet but aggressive accumulation streak that has quickly made the firm one of the largest Bitcoin holders globally.

With a portfolio of over 702,000 BTC, the asset manager and ETF issuer has overtaken long-time giants like MicroStrategy and Binance, all within months of beginning its acquisition. At this pace, the firm is now within striking distance of the largest wallet in history, the 1.1 million stash belonging to Bitcoin’s anonymous creator, Satoshi Nakamoto.

Much of BlackRock’s accumulation is tied to inflows into its spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT). Since launched in January 2024, IBIT has consistently ranked as the top-performing ETF by daily volume and net inflows, pulling a cumulative $76 billion in asset under management (AUM).

BlackRock’s latest purchase also comes amid a broader surge in demand and trading activity across the spot ETFs. The funds’ latest inflows topped $211 million, driven in part BTC’s recent rally to a new all time high of $111,970 on July 9.

While the crypto market giant has since adjusted hands to trade slightly over $111,000 at the time of writing, the uptick marked an approximate 12.5% rise from the month’s low of $99,500, renewing bullish sentiment across the funds and broader ecosystem.

The price rise also closely ties with rising institutional capital flows, such as the absorption of roughly 245,000 BTC by the ETFs in Q2 alone, just over 1% of the total Bitcoin supply. Of this number, BlackRock accounts for roughly 55%. 

Meanwhile, BlackRock and the ETFs are not the only ones loading up on Bitcoin. Strategy, the Michael Saylor-led corporate treasury firm is similarly growing its stack with consistent purchases. Japan-based Metaplanet has also ramped up its buying spree, aiming to become one of the asset’s largest holders by 2027.

Beyond them, more companies are turning to Bitcoin as a strategic reserve asset, allocating millions to boost their various portfolios.