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BlackRock's IBIT Bitcoin ETF has emerged as the third-largest Bitcoin holder worldwide, following the mysterious creator of Bitcoin, Satoshi Nakamoto, and Binance Exchange. This significant development is part of a larger trend where institutional interest in Bitcoin continues to grow. Currently, the combined holdings of US ETFs exceed 900,000 BTC, positioning them just behind Nakamoto, who is believed to hold over a million coins, though this figure remains debated.
Institutional Players Gaining Ground
Bloomberg analyst Eric Balchunas recently highlighted that Bitcoin ETFs could surpass Nakamoto as the largest holders by 2025. As it stands, BlackRock's IBIT ETF alone holds 347,767 BTC, making it a formidable player in the crypto space. Fidelity’s FBTC fund also ranks ninth with 176,626 BTC. Grayscale, another major player, is fourth with 263,801 BTC. The list also includes other significant holders like Binance Exchange, which ranks second with over 550,000 BTC. Despite facing regulatory challenges, Binance maintains its position as a major BTC custodian. Microstrategy, the largest public holder of Bitcoin, has 226,500 BTC, while the Bitfinex crypto exchange holds 221,315 BTC.
BlackRock’s Dominance in Asset Management
As the world's largest asset management company, BlackRock continues to expand its influence in the crypto space. With approximately $10 trillion in investments under management, BlackRock has diversified its portfolio into crypto assets, stablecoins, and tokenized assets. Its iShares Bitcoin ETF is estimated to manage close to $21 billion. Moreover, BlackRock's partnership with Circle has seen investments in the Circle Reserve Fund through USDC reserves. BlackRock's potential launch of its own blockchain could significantly enhance the standing of Bitcoin ETFs in the US, further solidifying its position as a leading asset management company. This development not only boosts Bitcoin's market presence but also emphasizes the growing institutional trust in cryptocurrency as a legitimate asset class.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.