BlackRock buys $612 million in Bitcoin amid escalating U.S.-Iran conflict
BlackRock increased its Bitcoin holdings by approximately $612.1 million over five days, according to Arkham Intelligence data. The purchases were made through IBIT, which recorded the largest inflows among U.S. spot Bitcoin ETFs during this period.
Notably, BlackRock did not halt its Bitcoin accumulation despite the U.S. and Iran failing to reach an agreement on key terms after a 21-hour meeting in Pakistan.
Portfolio remains focused on Bitcoin
On-chain data shows that BlackRock’s crypto portfolio is valued at approximately $62.75 billion as of April 13, 2026. Bitcoin makes up the majority of assets — about 788,927 BTC are valued at roughly $56 billion.
Ethereum is the second-largest holding, with more than 3 million ETH worth around $6.7 billion. Other digital assets, including stablecoins and smaller tokens, make up a minor portion of the portfolio.
Transaction data indicates that asset flows continue to move through Coinbase Prime. The platform serves as BlackRock’s primary partner for custody and execution, handling nearly all deposits and withdrawals related to its crypto operations.
Losses persist amid market pullback
Despite recent purchases, the value of BlackRock’s crypto assets has declined from a peak of over $110 billion recorded in late 2025. This drop reflects a correction in cryptocurrency prices rather than large-scale selling.
At the time of writing, Bitcoin is trading around $71,000, below the average entry price of approximately $89,000 for IBIT investors. This gap leaves ETF holders with an estimated unrealized loss of about $12 billion.
Despite these losses, inflows into Bitcoin ETFs have not stopped. Daily flow data shows alternating periods of inflows and outflows, but the overall trend remains positive. This suggests that some investors continue allocating capital during price declines.
ETF market records steady inflows
Data from SoSoValue shows that U.S. spot Bitcoin ETFs recorded daily net inflows of $240.42 million as of April 10. Total net inflows across all Bitcoin ETFs reached approximately $56.76 billion, while total net assets approached $94.98 billion.
IBIT remains the largest fund in this category. It has attracted about $63.73 billion in cumulative inflows and holds approximately $57.81 billion in net assets. Competing funds from Fidelity Investments and Grayscale Investments lag behind in total inflows.
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