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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).”

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Source: Lookonchain/X

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).”

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Source: Lookonchain/X

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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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Eugenia Porechenskaya




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