BlackRock’s iShares Bitcoin Trust (IBIT) has swiftly ascended the ranks to become the second-largest holder of Bitcoin globally, trailing only the pseudonymous creator Satoshi Nakamoto. As of May 26, IBIT controls more than 621,000 BTC—worth around $64.5 billion—accounting for approximately 3% of all Bitcoin in existence and rivaling legendary institutional and corporate holdings in the space.
Below, we break down BlackRock’s rise, compare its position to other market giants, and explore what this trend signals for Bitcoin’s place in institutional finance.
Institutional Accumulation Reaches New Heights
The meteoric growth of BlackRock’s IBIT since its January 2024 launch has rewritten the balance of power in Bitcoin investing. With over 621,000 BTC under management, IBIT now surpasses both Michael Saylor’s Strategy (580,250 BTC) and exchange giant Binance (534,471 BTC). When accounting for the portion of Bitcoin likely lost or inaccessible—some estimates say as much as 20%—BlackRock’s stake is even more significant, edging closer to Satoshi Nakamoto’s 1.1 million BTC trove.
This wave of institutional buying marks a structural shift for Bitcoin. Once seen as a volatile, retail-driven asset, Bitcoin is rapidly integrating into mainstream investment portfolios. According to Tracy Jin, chief operating officer of MEXC, “most institutions are less focused on short-term market volatility and have eyes on Bitcoin’s potential asymmetric upside and long-term value proposition.”
Liquidity and Flows Drive New Market Dynamics
U.S.-based spot Bitcoin ETFs attracted $2.75 billion in inflows last week alone, with Bitcoin breaking past its previous all-time high of $109,000. Weekly trading volumes for Bitcoin ETFs now regularly exceed $25 billion. This robust capital flow suggests that traditional investors increasingly see Bitcoin as a liquid, transparent, and neutral store of value—distinct from previous cycles dominated by retail-driven hype.
“Institutional momentum tends to be very self-reinforcing, and as more corporations announce Bitcoin allocations, others are incentivized to follow suit to remain competitive.” — Tracy Jin
- IBIT now holds over 621,000 BTC, more than any public company or exchange except for Satoshi’s presumed holdings.
- Institutional inflows are at record highs, with ETFs seeing billions in weekly volume and demand remaining strong even amid market corrections.
- Rising bond yields and mounting sovereign debt in major economies are accelerating the move from traditional safe havens to digital assets like Bitcoin.
Key Levels and the Road Ahead for Bitcoin
Analysts remain bullish on the back of institutional support but warn that key levels must be defended. The $94,000 mark is seen as critical support, while a sustained move above $112,000 could set the stage for a push to $140,000 before the end of summer. Notably, market dips are increasingly viewed by allocators as entry opportunities rather than signals to capitulate.
This rapid accumulation by BlackRock and its peers is fundamentally transforming Bitcoin’s identity—from a fringe instrument of financial rebellion to a pillar of institutional asset allocation. The fact that BlackRock, the world’s largest asset manager, now controls a wallet rivaling Satoshi’s is a powerful symbol of this changing landscape.
The Blurring Line: Crypto and Traditional Finance
As the walls separating traditional finance and crypto continue to fall, BlackRock’s ascent underscores a new era for Bitcoin: one in which institutions drive demand, liquidity, and price discovery on a global scale. With Satoshi’s coins still untouched, BlackRock’s living, growing BTC position is reshaping the market narrative—ushering in a future where Bitcoin is a fixture, not a curiosity, in capital markets worldwide.
