Financial titan BlackRock just accumulated an additional $518 million in Bitcoin (BTC) as the crypto king moves higher.
On Wednesday, BlackRock added 10,003 BTC into its new iShares Bitcoin Trust (IBIT), a spot exchange-traded fund (ETF), according to the on-chain analytics tracker Lookonchain.
That brings BlackRock’s total holdings to 105,280 BTC.
“iShares(BlackRock) added 10,003 BTC ($518M) [Wednesday] and currently holds 105,280 BTC ($5.45B). Eight ETFs added 14,104 BTC ($730.3M) and Grayscale decreased 1,912 BTC ($99M).”
BlackRock also made a huge buy on Tuesday, picking up more than 7,000 BTC.
“February 13th update: eight ETFs added 12,073 BTC ($590M) [Tuesday] while Grayscale only decreased 1,147 ($56M). iShares (BlackRock) added 7,497 BTC ($366.5M) and Fidelity added 3,039 BTC ($148.5M).”
BlackRock, which is currently the largest asset manager in the world, launched IBIT in January. Eight other financial groups also launched their own spot Bitcoin ETFs last month.
Bitcoin briefly hit $52,000 on Wednesday and is trading for $51,669 at time of writing, up more than 6% in the last 24 hours.
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Featured Image: Shutterstock/Eugenia Porechenskaya
The post BlackRock Accumulates $518,000,000 in Bitcoin in One Day As BTC Tags $52,000: On-Chain Analysis appeared first on The Daily Hodl.
