BlackRock quietly amasses nearly 4% of Bitcoin’s supply

BlackRock , the world’s largest asset manager, has crossed a line that once seemed unthinkable: through its iShares Bitcoin Trust ( IBIT ), it now controls around 3.8% of the total Bitcoin ￰2￱ Bloomberg’s Senior ETF analyst Eric Balchunas quipped, an equity ETF would need to amass “$2.2 trillion in assets” to achieve a similar footprint in its underlying ￰3￱ contrast, SPY, the granddaddy of equity ETFs with three decades of history, only holds about 1.1% of most stocks. IBIT, still a toddler by ETF standards, has managed in a year what traditional funds could not in a ￰4￱ owning 3.8% of all the bitcoin is bonkers if you think about ￰5￱ equity ETF would need to have $2.2 trillion in assets to have as much ownership of its underlying asset ￰6￱ $SPY owns 1.1% of most stocks and it's 32yrs old, IBIT is still a toddler. ￰0￱ — Eric Balchunas (@EricBalchunas) September 30, 2025 The scale is staggering.

IBIT’s net assets now stand at $87.7 billion, helping push BlackRock’s total crypto portfolio above $102 billion by the end of Q3, according to Finbold research in Q3 Cryptocurrency Market Report . ! function(e,n,i,s)var d="InfogramEmbeds";var o=e. getElementsByTagName(n)0;if(windowd&&windowd. initialized)windowd.

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parentNode. insertBefore(r,o)(document,"script","infogram-async","￰1￱ In the three months to September, the portfolio swelled by $22.46 billion, including a $10.9 billion gain in Bitcoin holdings and a sharp $11.46 billion increase in Ethereum exposure, the latter climbing more than 260%. The trajectory since January tells the fuller ￰7￱ dipping in Q1 when BlackRock’s portfolio briefly contracted by almost $5 billion the firm has added more than $35 billion in crypto assets year-to-date, with the strongest inflows coming in the first half and steady expansion in ￰8￱ started as a cautious foothold has turned into a structural ￰9￱ Bitcoin ETFs pull in $57 billion in inflows since launch IBIT is not operating in isolation.

Collectively, ￰10￱ Bitcoin ETFs have pulled in $57 billion in inflows since launch, including $21.5 billion this year ￰11￱ IBIT has emerged as the dominant force, capturing the lion’s share of those allocations and cementing BlackRock as one of Bitcoin’s largest single ￰12￱ Bitcoin itself, the irony is hard to ￰13￱ asset once cast as Wall Street’s antidote is now being hoarded by its most powerful institution.