- BlackRock added 10,249 Bitcoin worth nearly $970 million on a day when other major ETF players recorded heavy outflows.
- Fidelity, ARK, and Grayscale combined recorded outflows of over 3,400 BTC amid shifting investor sentiment in the crypto market.
- BlackRock’s direct Bitcoin wallet holdings now exceed 582,000 BTC, significantly expanding its dominance in Bitcoin asset management.
BlackRock’s iShares Bitcoin Trust (IBIT) expanded its Bitcoin holdings by 10,249 BTC, valued at approximately $970 million, on April 29, 2025. BlackRock launched its Bitcoin trust as part of a widespread movement of net outflows affecting well-known companies like Fidelity and Grayscale and ARK.
Lookonchain reported that Fidelity Wise Origin Bitcoin Fund lost 917 BTC during its single-day withdrawal period. ARK 21Shares Bitcoin ETF experienced greater withdrawals which totaled 2,389 BTC. The Bitcoin trust managed by GrayscaleTesla Inc had a smaller retrenchment of 103 BTC. An overall 3,400 BTC flowed out from three prominent funds as recorded during just one trading day.
BlackRock Leads the Market with Increased Bitcoin Holdings
While other major funds experienced heavy outflows, BlackRock moved decisively in the opposite direction. With the additional 10,249 BTC, IBIT’s total holdings now approach 599,000 BTC. This development solidifies BlackRock’s position as the leading holder among all U.S.-based spot Bitcoin ETFs.
Moreover, on-chain data reveals that BlackRock’s own Bitcoin wallet holds 582,614 BTC directly. These holdings, valued at over $55 billion at current market prices, are separate from its ETF-managed assets. This indicates that BlackRock’s total Bitcoin exposure is not only growing but also firmly dominating the market compared to its competitors.
Diverging Trends Extend to Ethereum ETFs
The Ethereum ETF market demonstrated identical patterns to the cryptocurrency sector. The Ethereum Trust operated by Grayscale experienced substantial redemptions while BlackRock’s iShares Ethereum Trust (ETHA) witnessed a substantial influx of over 37,000 ETH in one day. The market crisis demonstrates that investors demonstrate a clear preference to invest in BlackRock’s crypto products over other options.
