Crypto
BlackRock Crypto Portfolio Surges $15 Billion in August
BlackRock's cryptocurrency portfolio has seen a significant surge in value over the past month, increasing by $15.11 billion to reach $68.48 billion as of August 27.
The increase is attributed to the rise in the prices of Bitcoin (BTC) and Ethereum (ETH), with BTC rising from around $64,722 on August 1 to over $79,515 at the time of reporting, representing a 21.38% increase.
BlackRock's iShares Bitcoin Trust (IBIT) saw its value increase by $12.66 billion, while its iShares Ethereum Trust ETF (ETHA) portfolio surged by $2.45 billion over the same period.
The firm has also increased its holdings of BTC and ETH, with IBIT purchasing 31,830 BTC and ETHA adding 370,440 ETH to its portfolio.