BlackRock, which has approximately $11.6 trillion in assets under management, has now accumulated over 567,000 Bitcoin (BTC), valued at more than $47.8 billion. This substantial holding positions BlackRock as one of the largest Bitcoin holders globally.
CEO's Perspective Shift
BlackRock's CEO, Larry Fink, has notably changed his stance on Bitcoin. Previously skeptical, Fink now describes Bitcoin as a “legitimate financial instrument" and “digital gold" and suggests that most investors should consider a small Bitcoin allocation in their portfolios in his recent CNBC interview.
ETF Success and Market Impact
The introduction of Bitcoin exchange-traded funds (ETFs) has been described as one of the most successful ETF launches in history. Asset managers like BlackRock are contributing significant liquidity to the cryptocurrency markets, with Blackrock's physical bitcoin ETF, iShares Bitcoin Trust ETF, hitting $10bn assets under management (AUM) seven weeks after launching on 11 January 2024, the fastest ETF to ever hit the milestone. This potentially alters the typical cyclical capital rotation characteristic of cryptocurrency investments.
Market Fluctuations and Future Outlook
Despite recent market volatility and four consecutive weeks of outflows from crypto ETFs in February and early March 2025, BlackRock maintains a positive outlook on Bitcoin. The company has incorporated its Bitcoin ETF into its model portfolio, potentially increasing exposure to Bitcoin for more conservative investors.
As the largest global asset manager, BlackRock's significant involvement in the cryptocurrency space may have substantial implications for the broader adoption and integration of digital assets into mainstream finance. Rapidz, a FinTech payment company, stands ready to support our clients to transform their businesses with innovative and secure payment and digital asset solutions.
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