The Bitcoin Accumulation Race Is On – And BlackRock Is Closing In On 800K BTC

• BlackRock’s iShares Bitcoin Trust holdings have reached 788,927 Bitcoin after purchasing roughly $600 million worth of Bitcoin over the past week.
• The asset manager has extended its lead as the largest institutional Bitcoin holder, overtaking Strategy, which holds about 766,970 Bitcoin.
• Strategy could close the gap if it adds roughly 22,000 Bitcoin, highlighting the growing competition among major corporate Bitcoin buyers.

BlackRock's iShares Bitcoin Trust (IBIT), the world's largest Bitcoin (BTC) exchange-traded fund (ETF), bought roughly $600 million in BTC over the past week, according to on-chain data.

Arkham Intelligence flagged the transaction on Monday, showing steady inflows into BlackRock-linked wallets tied to the exchange-traded fund, bringing total holdings just below the 800,000 Bitcoin mark, valued at around $56 billion. 

Blackrock’s IBIT holds more Bitcoin than any corporate treasury in the world, including Strategy Inc (MSTR), which holds 780,897 Bitcoin, valued at around $55 billion. Strategy most added 13,927 Bitcoin on Monday, purchased at an average price of $71,902 per coin.  

The gap between the two stands at around 8,030 BTC, meaning Strategy would need to acquire roughly $600 million to overtake BlackRock's iShares Bitcoin Trust, as the single largest institutional Bitcoin holder. 

Strategy Executive Chairman Michael Saylor also posted on Sunday, writing “Think ₿igger,” alongside a chart of the firm’s Bitcoin purchases, signaling continued focus on expanding its holdings. 

BlackRock Expands Bitcoin ETF Strategy

BlackRock’s growing Bitcoin exposure comes as the firm prepares to expand its crypto product lineup. The asset manager recently filed an amended S-1 with the US Securities and Exchange Commission (SEC) for its iShares Bitcoin Premium Income ETF, which is expected to trade under the ticker BITA.

The proposed fund is designed to generate income through a covered call strategy tied to Bitcoin exposure, marking a shift away from simple spot-price tracking. The filing follows the success of BlackRock’s spot Bitcoin ETF, IBIT, which has quickly become one of the largest Bitcoin investment vehicles in the market, according to Arkham.

The iShares Bitcoin Trust ETF closed in green on Friday. IBIT’s stock price was trading down more than 3% in pre-market hours. On Stocktwits, the retail sentiment around IBIT remained in the ‘bearish’ zone, while chatter around it moved to ‘low’ from ‘normal’ levels over the past day. 

Likewise, Strategy Inc closed in the red on Friday. In pre-market hours, MSTR’s stock was down by over 2%. On Stocktwits, the retail sentiment around MSTR remained in the ‘bearish’ zone, while chatter around it stayed at ‘normal’ levels over the past day.

Read also: Bitcoin’s Rally Faces Leverage Test – Dragging MSTR, COIN, ASST And BMNR Lower

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