BlackRock adds $24 bln to crypto portfolio

BlackRock significantly ramped up its digital asset exposure in the first half of 2025, adding nearly $24 bln to its crypto portfolio, according to Finbold’s H1 2025 Cryptocurrency Market Report.

The asset manager’s holdings climbed from $54.77 bln on January 1 to $78.67 bln by June 30, a 30.38% increase, driven primarily by inflows into its spot Bitcoin and Ethereum ETFs, which launched earlier this year.

“This surge in on-chain holdings reflects massive investor demand for spot crypto ETFs and BlackRock’s strategic positioning to meet it,” said Jordan Major, senior analyst at Finbold. “Most of the firm’s accumulation happened in Q2 as institutional momentum accelerated.”

Bitcoin led the charge. BlackRock’s BTC holdings rose from $51.16 bln to $74.47 bln, a $23.3 bln increase (31.3%). Ethereum holdings also grew, up $678.95 mln (16.15%) to reach $4.21 bln.

“What’s visible on-chain likely only scratches the surface,” noted Diana Paluteder, research analyst at Finbold. “These figures reflect ETF custody wallets, but BlackRock’s total exposure could be even higher when accounting for OTC and indirect positions.”

By mid-year, BlackRock held an estimated 575,860 BTC and 1.17 million ETH, reinforcing its dominance as the largest institutional holder of digital assets.