BlackRock buys more Bitcoin, receives $100M BTC from Coinbase Prime

BlackRock has received deposits of $100 million in Bitcoin in the last seven days, and its portfolio now holds 570.83 BTC. According to Arkham Intelligence data, the world’s largest asset manager received 350 BTC via Coinbase Prime on Monday.

The firm continues to invest more in digital assets, with a growing portfolio that includes over 1.17 million Ether (ETH) valued at approximately $2.46 billion, $79.8 million in the stablecoin USDC, and other altcoins like Colle AI (COLLE), SPX6900 (SPX), Atua AI (TUA), and UBXS (UBXS).

BLACKROCK IS BUYING.

BLACKROCK JUST RECEIVED $100M $BTC FROM COINBASE PRIME

AND THEY HAVEN’T SOLD ANYTHING IN THE PAST WEEK. pic.twitter.com/dLxEbsh6Wt

— Arkham (@arkham) March 24, 2025

Blackrock’s digital currency total holdings now stand at $52.8 billion, a 3.3% uptick from the weekend but a $72 million deficit from valuations seen in the previous week.

IBIT Bitcoin ETF sees strong inflows

The recent influx of Bitcoin to BlackRock follows a $104.99 million net inflow on its Ishares Bitcoin Trust (IBIT) last Friday, March 21. The 2024-introduced ETF has been the most successful institutional investment vehicle so far, with its net asset reaching $48 billion, according to data from Sosovalue.

Between March 17 and 21, spot Bitcoin ETFs collectively recorded nearly $745 million in net positive flows. BlackRock’s IBIT led the inflows, while other products, including Fidelity’s FBTC, Ark Invest/21Shares’ ARKB, and Bitwise’s BITB, also saw substantial deposits. Grayscale Bitcoin Trust (GBTC) was the only ETF to record negative flows of $21.9.

On March 18, the sector saw its best single day of net inflows since early February, with investors adding over $274 million to Bitcoin ETFs. That day, IBIT saw $42.3 million in new funds, while Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BITB attracted $127.3 million, $88.5 million, and $2.3 million, respectively. Meanwhile, Grayscale’s GBTC reported no outflows.

On the altcoin hand, Ethereum funds saw a net outflow of $102.9 million during the same period, with BlackRock’s iShares Ethereum Trust ETF (ETHA) accounting for $74 million of those withdrawals.

BlackRock is seemingly not phased by Ether’s price struggles. It has continued to increase its exposure to Ethereum through its BUIDL fund, which focuses on tokenized real-world assets (RWA). 

According to Token Terminal data, the fund now holds a record $1.15 billion worth of ETH, up from approximately $990 million a week earlier.

BlackRock adds IBIT to target allocation portfolios

Beyond its ETF holdings, BlackRock incorporated Bitcoin into its investment strategies, hoping to cash in on the White House’s plan to create a strategic BTC reserve. Per an investment outlook obtained by Bloomberg, the asset manager added a 1% to 2% allocation of IBIT to its $48 billion target allocation portfolios, which include alternative investments, in late February.

The firm’s model portfolios, which bundle different funds into ready-made investment strategies, are widely used by financial advisors and can drive significant capital flows.

“We believe Bitcoin has long-term investment merit and can potentially provide unique and additive sources of diversification to portfolios,” wrote Michael Gates, lead portfolio manager for BlackRock’s Target Allocation ETF model portfolio suite, in a report dated February 27.

BlackRock’s increased exposure to Bitcoin comes at a time when the crypto market’s sentiment is leaning toward the bulls. The token’s price is on a 4% uptick from its intraday lows, now changing hands slightly above $88,000.