With over 621,000 BTC under control, BlackRock currently sits as the largest Bitcoin holder just below Nakamoto at.
As Bitcoin (BTC) quietly slips further into the grip of the facility, one asset manager has moved to a mainstay status that is closer to the newcomer, now chasing only Bitcoin’s anonymous creator Satomura.
BlackRock’s Ishares Bitcoin Trust (or simply known as the ticker IBIT) debuted in January 2024 and has since established itself as the dominant institutional tool of BTC exposure. As of May 26th, TRUST was above 621,000 btc, worth around $64.5 billion, which, according to Bitbo data, represents about 2.96% of the total supply of Bitcoin supply, which amounts to about 2.96% of 21 million coins.
Bitcoin Holdings by BlackRock and others | Source: Bitbo
However, if up to 20% of all Bitcoin suggests that up to 20% will be lost or inaccessible due to the loss of a forgotten key or wallet, then BlackRock’s interests are well above 3.5% of the effective circular supply, allowing you to approach Nakamoto’s legendary 1.1 million BTC troubles.
For comparison, Michael Saylor’s strategy holds 580,250 BTC, while Crypto Exchange Binance has 534,471 BTC per Coinglass.
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This pace of accumulation is not merely a statistical footnote, but shows a deeper structural change in the role of Bitcoin in the global portfolio. BlackRock now holds more BTC than long-time corporate holders such as Strategy and Binance. The trend is evidence that Bitcoin is no longer just a speculative asset, but not a hedge against Fiat, and that it is a core allocation in an institutional investment strategy.
Asymmetrical upside
In a commentary to Crypto.News, MEXC Chief Operating Officer Tracy Jin said the sharp pivots by many companies integrating BTC into their long-term investment strategies “a fundamentally restructuring the market dynamics of Bitcoin,” adding that “it was once a retail-driven market, and highly environmental assets have become organized feeding.”
“This investor behavior dynamic highlights that most institutions are less focused on short-term market volatility and are looking at the potential asymmetric rise in Bitcoin and the long-term value proposition.”
Tracy Gin
The data supports this shift. The US-based Spot Bitcoin ETF saw an influx of $2.755 billion last week, with Bitcoin exceeding its history-high $109,000 in January. That figure shows an increase of more than four times from the $688 million recorded last week.
In economies like the US and Japan, traditional safe assets are losing their appeal as sovereign debt burdens shine red and bond yields have risen to a large month’s high. As Jin explained, the change “is not a flight from a risk, but a flight from an older model of risk.”
“The bond yields in the US and Japan are rising sharply, sovereign debt burdens are shining red, and even the last remaining AAA credit badges are gone. For decades, gems have been a safe haven during periods of turbulence. Capital is running from them today.”
Tracy Gin
$140,000 by the end of summer
The rise of regulated Bitcoin products may be beginning to see BTC as a speculative fringe asset, potentially beginning to be seen as a potentially neutral, transparent, and increasingly liquid and valuable reservoir. Unlike previous bull markets, which often spurred retail hype and meme-driven enthusiasm, current gatherings appear to be supported by long-term positioning and a more measured institutional influx.
“Institutional momentum tends to be very self-strengthened, and as more companies announce their bitcoin allocations, others are encouraged to follow suits to stay competitive.
Tracy Gin
However, this institutional wave is not without volatility. Analysts warn that Bitcoin needs to protect its main support zone, although the bullish structure remains intact. Ginn considers the $94,000 level as a significant negative threshold, with a break above $112,000 likely pushing BTC to $140,000 by the end of summer. In her view, Dip is now considered a “strategic entry point, not a sign of surrender,” a major contrast to the previous cycle.
As Bitcoin’s story moves from rebellion to resilience, BlackRock’s market presence serves as a clear signal that the traditional fiscal and crypto line is rapidly blurring. Nakamoto’s holdings remain untouched and symbolic, but BlackRock’s wallet is very realistic and heavy.
read more: BlackRock meets with the SEC to discuss Crypto Staking, Tokenization and ETF rules