BlackRock Bitcoin Holdings Hit 801,033 BTC, Its Biggest Quarter-End Stash Yet

BlackRock bitcoin holdings have never looked bigger at the end of a quarter.

The iShares Bitcoin Trust (IBIT) held 801,033 BTC on September 30, according to the fund’s quarterly report filed with the SEC on November 6.

That is 66,772 BTC more than it held on June 30, a 9.1% jump in just three months, and the highest quarter-end figure in any of the fund’s filings since it launched in January 2024.

The timing is awkward. The report landed on the same day IBIT finished a week of heavy redemptions, and bitcoin slipped toward $73,500 early on Monday.

So which number should investors trust more: one rough week, or the trend in the filings?

What Does the New IBIT Filing Show?

The Form 10-Q breaks down every bitcoin that moved in or out of the trust during the third quarter.

IBIT started July with 734,261 BTC. It bought 106,157 BTC, worth about $7.8 billion, to back newly created shares.

Over the same period it delivered 38,937 BTC, valued at about $2.7 billion, to meet redemptions. Another 448 BTC was sold to pay BlackRock’s sponsor fee.

In other words, buyers outpaced sellers by almost three to one during the quarter.

The fund’s net assets were $67.03 billion at the end of September, with 1,414,760,000 shares outstanding and a net asset value of $47.38 per share.

How Big Are BlackRock Bitcoin Holdings Now?

At 801,033 BTC, IBIT alone holds about 3.8% of bitcoin’s fixed 21 million supply.

At Sunday’s Coinbase closing price of about $74,750, that stash is worth roughly $59.9 billion.

The quarter-by-quarter path shows how quickly it got there. IBIT held 252,011 BTC at the end of March 2024 and 551,918 BTC by the end of 2024.

The chart also shows that the climb has not been a straight line. Holdings fell by 49,483 BTC in the second quarter of 2026, from 783,744 BTC to 734,261 BTC, as investors pulled money out.

The third quarter erased that dip and then some. We think that rebound matters more than the dip itself, because it shows demand returning after a drawdown instead of fading away.

Did the Buying Continue Into October?

The filing offers one more clue. As of October 31, IBIT had 1,434,080,000 shares outstanding, about 19.3 million more than at the end of September.

New shares are only created when bitcoin is delivered to the trust. On our rough estimate, holding bitcoin per share constant, that points to roughly 11,000 additional BTC during October.

Farside Investors data backs up the direction. IBIT took in about $932 million of net inflows in October, even as US spot bitcoin ETFs as a group recorded about $516 million of net outflows that month.

For the third quarter, Farside’s figures show about $5.12 billion of net IBIT inflows, which lines up closely with the $5.1 billion gap between the creations and redemptions in BlackRock’s own report.

Why Did IBIT See Outflows Last Week?

The first week of November told a different story.

Farside data shows IBIT recorded net outflows on all five trading days from November 2 to November 6, totaling about $1.21 billion. That was almost all of the roughly $1.28 billion that left US spot bitcoin ETFs that week, which we covered in our look at the outflow week.

At last week’s prices, $1.21 billion is in the region of 16,000 BTC. That is a meaningful sum, but it is less than a quarter of what IBIT added between July and September.

Even if the October estimate and last week’s outflows are netted together, BlackRock bitcoin holdings would still sit well above the June 30 level.

Several pressures landed at once. Prices fell after the midterm elections, the October jobs report lifted rate worries, and bitcoin traded near $73,500 during Monday’s Asian session, its lowest level since August.

Why Do These Holdings Matter for Bitcoin?

We believe the 10-Q is a useful reminder that spot ETFs are a long-term pipe for demand, not a one-week trade.

Every share created removes bitcoin from the open market and places it with a regulated custodian. The filing names Coinbase Custody as the trust’s bitcoin custodian.

The average price IBIT paid for its third-quarter creations works out to about $73,450 per BTC, close to where bitcoin trades today. Investors who bought in that window are roughly flat, not deeply underwater, which may limit the pressure to sell.

The lower price has also trimmed BlackRock’s fee income. The trust paid $33.9 million in sponsor fees in the third quarter, down from $53.3 million a year earlier, because fees are charged on the value of the bitcoin held.

That is one reason we see calmer markets, like the steep fall in bitcoin volatility since 2021, as good news for patient allocators.

What Should Investors Watch Next?

• Daily IBIT flows: a return to steady creations would show last week was a pause rather than a turn.
• The year-end filing: the 10-K will reveal whether BlackRock bitcoin holdings closed 2026 above 801,033 BTC.
• Macro data: inflation figures due this week could shape rate expectations and risk appetite.

One bruising week of outflows makes for loud headlines. The SEC filing tells the quieter story: through September, the world’s largest bitcoin fund kept adding coins, and it did so faster than it was losing them.