New data from market intelligence firm Arkham reveals that asset management titan BlackRock has built a $50 billion stash of Bitcoin (BTC) in 2024.
Asset management behemoth BlackRock reportedly built up a massive stash of Bitcoin (BTC) in 2024, according to new data from market intelligence firm Arkham.
The data reveals that BlackRock amassed a total of $50 billion in BTC last year, making it the firm's largest digital asset holding.
Other significant digital assets in BlackRock's portfolio include $3.6 billion worth of leading altcoin Ethereum (ETH) and $68.5 million in the stablecoin USDC.
However, it's worth noting that BlackRock, which manages over $10 trillion in assets, is no longer accumulating the premier crypto asset by market capitalization. Instead, the firm is said to be pivoting toward short-term unloading of BTC.
Earlier this month, it was reported that BlackRock's spot market BTC exchange-traded fund (ETF) experienced a record level of outflows.
Specifically, it was revealed that the firm's iShares Bitcoin Trust ETF (IBIT) saw $332.6 million in outflows on January 2, marking the highest day on record.
In November, it was reported that IBIT had surpassed BlackRock's gold ETF (IAU) in terms of net assets, reaching over $33 billion, despite the gold ETF being launched almost two decades earlier in 2005.
At the time of writing, BTC is trading at $94,201, down 1.1% over the past 24 hours.
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