January 11, 2025

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12:00 am

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(Updated:

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MIN READ

Institutional Bid for Bitcoin

Arkham
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Contents

    BlackRock’s on-chain holdings
    BlackRock’s on-chain holdings

    In 2024, traditional finance institutions finally gained direct access to Bitcoin via approved spot Bitcoin exchange traded funds (ETFs). Over the year, Blackrock acquired $56B worth of Bitcoin, or 557K BTC, on behalf of their clients, while Fidelity bought more than $20B worth, or 346K BTC, as well.

    Visualizing MicroStrategy’s Bitcoin purchases
    Visualizing MicroStrategy’s Bitcoin purchases

    Michael Saylor’s Microstrategy continued their purchases through 2024, buying up $24B worth of Bitcoin in the year alone. Their purchases originally began in August 2020, with an initial purchase of 21K BTC, or $250M worth at the time.

    Beyond institutional Bitcoin, institutions were also finally able to offer Ethereum spot ETFs to their clients, with BlackRock alone holding just over $3.62B worth in ETH in their custody.

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