Financial titan BlackRock just accumulated an additional $518 million in Bitcoin (BTC) as the crypto king moves higher.

On Wednesday, BlackRock added 10,003 BTC into its new iShares Bitcoin Trust (IBIT), a spot exchange-traded fund (ETF), according to the on-chain analytics tracker Lookonchain.

That brings BlackRock’s total holdings to 105,280 BTC.

“iShares(BlackRock) added 10,003 BTC ($518M) [Wednesday] and currently holds 105,280 BTC ($5.45B). Eight ETFs added 14,104 BTC ($730.3M) and Grayscale decreased 1,912 BTC ($99M).”

BlackRock also made a huge buy on Tuesday, picking up more than 7,000 BTC.

“February 13th update: eight ETFs added 12,073 BTC ($590M) [Tuesday] while Grayscale only decreased 1,147 ($56M). iShares (BlackRock) added 7,497 BTC ($366.5M) and Fidelity added 3,039 BTC ($148.5M).”

BlackRock, which is currently the largest asset manager in the world, launched IBIT in January. Eight other financial groups also launched their own spot Bitcoin ETFs last month.

Bitcoin briefly hit $52,000 on Wednesday and is trading for $51,669 at time of writing, up more than 6% in the last 24 hours.

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Author: Joshua Sabatini

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