Financial Insights That Matter
BlackRock’s latest 13F filing for Q1 2025 reveals a significant uptick in its Bitcoin exposure.
The report shows a total of $5.43 billion invested across Bitcoin spot ETFs and stocks tied to Bitcoin treasuries and mining operations. These latest figures represent a major increase from Q4 2024, amid growing institutional confidence in crypto.
Notably, the firm’s flagship Bitcoin spot ETF, IBIT, saw its holdings grow from 2.6 million shares to 5.85 million shares, now worth $273.9 million. BlackRock also opened a new position in Fidelity’s FBTC. It now holds 70,971 FBTC shares worth $5.1 million. At the same time, it initiated smaller positions in Grayscale’s GBTC and GBTC Mini.
Bigger Exposure in Strategy
BlackRock’s largest allocation remains in MicroStrategy (MSTR), the business intelligence firm now known as Strategy, which holds over 555,000 BTC. Specifically, BlackRock now owns 14.4 million Class A shares, an increase of 3.15 million shares from Q4 2024. These shares are worth $4.16 billion.
Additionally, the asset manager holds 623,648 Series A Preferred shares—newly added this quarter—worth $52.3 million. Meanwhile, another new addition in Q1 2025 includes 8.5 million convertible notes (0.625%) and 6.4 million notes (0.875%), totaling over $28 million.
Combined, BlackRock’s stake in Strategy-related securities now exceeds $4.23 billion, accounting for nearly 78% of its total Bitcoin-focused exposure.
Bitcoin Mining Stocks See Big Inflows
The asset manager also expanded its footprint in Bitcoin mining firms. Its holdings in Marathon Digital (MARA) surged from 50 million to 53.9 million shares, now valued at $619.9 million.
Similarly, BlackRock’s position in Riot Platforms (RIOT) increased by 2.5 million shares, bringing the total value to $192.3 million.
Bitdeer Technologies (BTDR) grew more than 150%, from 835,000 to 2.1 million shares. Other miners like TeraWulf (WULF) and Bit Digital (BTBT) also saw modest increases, bringing BlackRock’s total mining allocation to over $950 million.
Institutional Conviction Rising
The Q1 2025 13F filing reflects BlackRock’s growing conviction in Bitcoin’s long-term value proposition. With over $5.4 billion in strategic Bitcoin-related positions, the world’s largest asset manager is clearly not fading the ongoing institutional FOMO surrounding Bitcoin.
Notably, BlackRock’s iShares Bitcoin Trust (IBIT) now holds 607,685.5 BTC, worth over $57.16 billion. Since its inception, the ETF has attracted $43.68 billion in investment.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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