On a day when some of the biggest names in crypto ETFs - Fidelity, ARK and Grayscale - showed red outflows, BlackRock made a move that may turn heads across the market - a $970 million increase in its Bitcoin holdings.
Data from Lookonchain confirms that Fidelity Wise Origin, ARK 21Shares and Grayscale’s flagship Bitcoin ETF all recorded net outflows. Fidelity saw a one-day withdrawal of 917 BTC, ARK lost 2,389 BTC and Grayscale pulled back by 103 BTC. The total net outflow among these three: over 3,400 BTC.
Meanwhile, BlackRock's iShares Bitcoin Trust (IBIT) added a staggering 10,249 BTC in a single day - equivalent to roughly $970 million at current prices. It now sits at nearly 599,000 BTC under management, making it the largest holder among U.S. spot Bitcoin ETFs.
What makes this move even more notable is BlackRock’s own wallet data. On-chain analysis shows the firm now holds 582,614 BTC directly, valued at over $55 billion. That is in addition to its ETF assets, meaning BlackRock’s total exposure to Bitcoin is not only growing - it is dominating.
Let's be real, this is not BlackRock making a speculative bet. It is BlackRock fulfilling orders. Investors are buying IBIT - and BlackRock, by design, is buying the Bitcoin to match.
Still, In a space known for speculation, it is rare to see such an accumulation on a red day. BlackRock may be seeing what others are missing - or betting that the crowd is once again facing the wrong way.
Interestingly, the divergence is not just in Bitcoin. Ethereum ETFs showed a similar split: the Grayscale Ethereum Trust saw red, while iShares’ ETHA ETF absorbed over 37,000 ETH in a day.
Vladislav Sopov
Dan Burgin