BlackRock’s Bitcoin ETF Now Holds More BTC Than Coinbase and Binance Combined—Institutional Dominance Arrives

Wall Street's crypto takeover just hit hyperdrive.

BlackRock's IBIT ETF has officially flipped both Coinbase and Binance in Bitcoin holdings—making the world's largest asset manager a bigger whale than the exchanges that built the entire market.

The new custodial kings

IBIT's vault now bulges with more Bitcoin than the two largest trading platforms combined. Forget 'not your keys, not your coins'—the mantra now is 'not your ETF, not your problem.' Traditional finance finally cracked the code: why mine gold when you can just buy the entire mine?

Zero self-custody, maximum profit—the ultimate irony for crypto purists who still think Satoshi would approve.

This isn't adoption—it's absorption. And honestly? Watching bankers out-crypto the crypto natives is the most entertaining plot twist since someone thought 'dogecoin' was a serious investment.

TLDR

• BlackRock’s Bitcoin ETF now holds 745,000 BTC, surpassing Coinbase and Binance.

• BlackRock’s iShares Ethereum ETF nears surpassing Coinbase in ETH holdings.

• The rise in ETF holdings signals a growing institutional preference for regulated crypto assets.

• Bitcoin and Ether inflows to exchanges have slowed, suggesting less selling pressure.

BlackRock has cemented its role as a leading institutional custodian for both Bitcoin (BTC) and ethereum (ETH), surpassing major crypto exchanges like Coinbase and Binance in terms of holdings. According to recent data, BlackRock’s Bitcoin ETF now holds over 745,000 BTC, while its iShares Ethereum ETF has accumulated 3.6 million ETH, just 200,000 ETH behind Coinbase. This rapid growth in holdings reflects an ongoing structural shift in how institutional investors are interacting with cryptocurrencies.

The increasing prominence of BlackRock’s ETFs indicates a growing institutional interest in regulated crypto products over traditional exchange custody. By focusing on assets like Bitcoin and Ethereum, BlackRock is tapping into a market where both retail and institutional investors are increasingly looking for secure, compliance-driven ways to engage with digital assets.

Ethereum ETF Holdings Surge as BlackRock Nears Coinbase

BlackRock’s Ethereum ETF has been a major player in reshaping the ETH custody landscape. As of now, the iShares Ethereum ETF holds 3.6 million ETH, positioning it as the second-largest ETH custodian after Binance.

Notably, BlackRock has added 1.2 million ETH to its holdings in just under two months, a pace that could see it surpass Coinbase by the end of the year. Coinbase, once the largest ETH custodian with over 8 million ETH in 2019, has seen its reserves decline to 3.8 million ETH.

The increased accumulation of ETH by BlackRock is a signal of stronger institutional demand for the asset, which is reflected in the lower levels of ETH inflows into exchanges. These trends suggest that Ethereum is moving further into the institutional mainstream, as more players look to ETFs for exposure to the digital asset class.

Declining Exchange Inflows Signal Tightening Market for Bitcoin and Ether

Data from CryptoQuant indicates a slowdown in bitcoin and Ether inflows into major exchanges like Coinbase and Binance, signaling reduced selling pressure. In particular, Bitcoin’s 30-day moving average of inflows has dropped to its lowest point since May 2023, while ETH inflows have similarly declined.

Despite Bitcoin trading NEAR $111,000 and Ethereum nearing $4,600, exchange activity is down, highlighting that investors are more reluctant to sell at these higher prices.

This decrease in exchange inflows is coupled with an increase in ETF investments, signaling a shift in how investors are interacting with crypto assets. The slowing inflows to exchanges coupled with growing ETF accumulation points to a tightening supply of both Bitcoin and Ethereum, potentially setting the stage for continued upward momentum in the market.