In a stunning display of institutional dominance, BlackRock, the world’s largest asset manager, has amassed over 669,523 Bitcoin (BTC) representing more than 3% of the total global supply of the digital asset. This figure has positioned BlackRock as one of the most powerful entities in the cryptocurrency ecosystem and further solidifies the entrance of Wall Street into the digital currency domain.
As of June 2025, the total maximum supply of Bitcoin is capped at 21 million BTC. With over 19.7 million BTC already mined, BlackRock’s current holdings account for a significant portion of the liquid, tradable Bitcoin in circulation. Their accumulation is primarily driven through the success of their spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), which launched on January 11, 2024.
Since its debut, IBIT has witnessed explosive growth. The ETF attracted billions in inflows from both retail and institutional investors, with BlackRock rapidly acquiring BTC to back the issued shares. Within months, IBIT climbed to become the most dominant Bitcoin ETF on the market, surpassing competitors like Grayscale and Fidelity.
Experts suggest that BlackRock’s aggressive acquisition strategy not only reflects growing investor confidence in Bitcoin but also symbolizes a structural shift: crypto is no longer on the financial fringe but becoming mainstream, regulated, and institutionally anchored.
Critics, however, warn that centralizing such a large amount of Bitcoin under one institution undermines the decentralized ethos of the cryptocurrency. With over 669K BTC, BlackRock now possesses a degree of influence that could affect price dynamics, governance discussions, and future regulatory narratives.
Still, for many investors, the endorsement of Bitcoin by a trillion-dollar asset manager like BlackRock is a validation of crypto’s long-term viability. The company’s deep integration of BTC into its portfolio strategy could inspire other financial giants to follow suit potentially leading to further price rallies and enhanced legitimacy for digital assets.