BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated Bitcoin (BTC) valued at over $537 million in May 2026.
BlackRock’s IBIT has increased its BTC holdings by over 8,000 in May, up from about 810,800 BTC on May 1 to 818,840 units on May 19, according to on-chain data from Arkham Intelligence, analyzed by Finbold.
By the end of the first week of May, IBIT’s Bitcoin holdings surged to roughly 823,000 coins, representing an increase of 13,000 BTCs. Over the subsequent day through Tuesday, BlackRock’s IBIT has trimmed its BTC holdings by 6,000 coins to around 817,000 units at the time of reporting.
On Monday, IBIT deposited 2,221 BTC, valued at about $170.59 million, to Coinbase Prime, as Finbold reported. During the past 24 hours, the fund deposited 5,847 BTC, worth approximately $449 million, into Coinbase Prime. As such, BlackRock investors have shifted from the initial aggressive Bitcoin accumulation recorded earlier this month to notable distribution.
BlackRock investors accumulate Bitcoin despite unrealized losses
BlackRock investors have continued to net purchase Bitcoin in May despite the fund being in notable net unrealized losses. Since Bitcoin’s early price capitulation in February 2026, IBIT has remained in net unrealized losses, currently hovering at $7.9 billion.
With BlackRock’s investors recording net purchases in May despite the fund holding significant unrealized losses, this signals strong institutional conviction.
What’s next for BTC price?
Bitcoin price has closely mirrored IBIT’s performance in May. The flagship coin recorded bullish sentiment in the first week of May, peaking slightly above $82,200, thus echoing BlackRock’s significant purchases.
However, as IBIT accelerated outflows over the past few days, BTC price has turned bearish, dropping nearly 5% over the past seven days, trading at around $76,570 at the time of reporting. As such, if BlackRock’s investors accelerate sell-off in the coming days, BTC price could drop further and vice versa.
