The Korean boy band's label, Big Music Entertainment, confirmed to Reuters the group had made the generous donation.
The seven-piece band took to Twitter to say they are against racism and violence with the hashtag BlackLivesMatter.
They wrote: 'We stand against racial discrimination. We condemn violence. You, I and we all have the right to be respected. We will stand together.'
The hashtag quickly went viral among BTS' ardent fanbase who started another hashtag, MatchAMillion, as many of them also made donations.
The movement encouraged the group's fanbase, known as ARMY (Adorable Representative MC for Youth) to match their $1million donation.
The death of 46-year-old George Floyd in Minneapolis has sparked days of demonstrations across the nation over police brutality against African-Americans.
