BlackRock Devours Weeks' Worth of New BTC Supply in Eight Days

BlackRock has significantly expanded its crypto holdings over an eight-day period, acquiring $2 billion in Bitcoin and $961 million in Ethereum through its spot ETF products.

The purchases were made by BlackRock's flagship Bitcoin ETF, IBIT, which recorded approximately $1.33 billion in net inflows during a five-day period in mid-August, while its Ethereum counterparts, ETHA and ETHB, pulled in roughly $537 million over the same window.

A particularly aggressive 48-hour stretch around August 21 saw BlackRock-affiliated wallets absorb 11,098 BTC and 132,769 ETH, a haul worth approximately $1 billion.