BlackRock has officially overtaken crypto exchanges to become the single largest known holder of Bitcoin, cementing its dominance in the digital asset space.
Its iShares Bitcoin Trust (IBIT) now controls roughly 781,160 BTC, according to on-chain data compiled by CryptoQuant on August 22, 2025.
This staggering amount puts BlackRock ahead of Coinbase, which holds about 703,110 BTC, and Binance, with roughly 558,070 BTC. The only entity believed to possess more is Bitcoin’s mysterious creator, Satoshi Nakamoto, whose 1.1 million BTC remain untouched since the network’s earliest days.
A Supply Shock in the Making
The milestone marks a profound change in how Bitcoin is held and accumulated. While exchanges have historically served as liquidity hubs for active traders, ETF reserves function differently: coins custodied in IBIT are effectively locked out of circulation. Analysts argue this creates a deepening supply squeeze, reducing the available float for buyers and strengthening Bitcoin’s long-term price foundation.
Investor behavior is shifting accordingly. Instead of parking funds on platforms like Coinbase or Binance, more participants are opting for regulated, institutionally managed products. This preference for custodial security and regulatory oversight is redefining the balance of power within the crypto ecosystem.
BlackRock’s Expanding Crypto Empire
The development comes just days after reports confirmed BlackRock’s total crypto exposure had surpassed $100 billion. As of mid-August, its portfolio included $89.27 billion in Bitcoin (743,310 BTC) and $14.71 billion in Ethereum (3.2 million ETH).
The surge underscores BlackRock’s rapid ascent as the dominant player in digital assets — a position bolstered by relentless inflows into IBIT. With its holdings now eclipsing major exchanges, the firm has emerged as the primary custodian of institutional Bitcoin demand.
Fidelity Joins the Race
Competition, however, is intensifying. Fidelity has expanded its presence through the Fidelity Bitcoin ETF (FBTC) and Fidelity Ethereum ETF (FETH). Combined, the funds now control 199,127 BTC and 728,939 ETH worth $25.92 billion as of August 20.
While Fidelity is ramping up, BlackRock’s lead remains significant. Market watchers suggest that the concentration of Bitcoin in ETF vehicles may accelerate the transition from retail-driven trading to institutionally dominated ownership, reshaping liquidity and market dynamics for years to come.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/blackrocks-bitcoin-stash-explodes-to-781000-btc-second-only-to-satoshi/