BlackRock and MicroStrategy follow different objectives in the Bitcoin market. While both are actively involved in cryptocurrencies, their strategies and motivations are markedly different.
MicroStrategy's Strategies and Michael Saylor
MicroStrategy, led by Michael Saylor, holds 450,000 Bitcoins, which is more than 2% of all Bitcoin in circulation. The average purchase price was $62,503 per Bitcoin. In January 2025 alone, an additional 3,600 BTC were added to its portfolio. The company has raised $2 billion through perpetual preferred stock offerings to bolster its positions.
BlackRock's Approach to Bitcoin
BlackRock’s iShares Bitcoin Trust holds around 250,000 Bitcoins. The goal of the trust is to provide access for institutional investors without directly holding the asset. As of Q4 2024, 682 unique investors have reported their holdings.
The Future of Crypto ETFs
Interest in Bitcoin ETFs has waned slightly, and applications for new funds tied to currencies like Solana and XRP are queued. Analysts doubt these ETFs will attract substantial attention. JPMorgan estimates that Solana and XRP ETFs could attract between $3 billion to $8 billion.
New formats and products are emerging on the crypto investment market horizon, but Bitcoin's dominance remains unchallenged. The future of crypto ETFs hinges on regulatory changes and innovation.
