BlackRock Buys $1.8 Billion in Bitcoin and Ethereum
BlackRock's exposure to Bitcoin and Ethereum has significantly increased in recent days, with the asset manager scooping up over $1.8 billion worth of the assets in a single week.
The inflows into BlackRock's spot Bitcoin and Ethereum ETFs were substantial, with a combined net inflow of $1.87 billion between August 17 and August 21.
BlackRock's iShares Bitcoin Trust (IBIT) attracted approximately $1.33 billion, while the iShares Ethereum Trust (ETHA) added another $536.8 million to its assets.
The largest single-day inflow into IBIT came on August 20, with investors pouring over $503 million into the fund.