BlackRock Drops Billions on Bitcoin and Ethereum

BlackRock has made significant investments in cryptocurrencies over the past two weeks, purchasing assets worth over $3.1 billion.

The company's iShares Bitcoin Trust (IBIT) acquired 22,722 BTC valued at around $2.2 billion, while its iShares Ethereum Trust ETF (ETHA) accumulated 385,633 ETH worth roughly $961 million during the same period.

BlackRock received both ETH and BTC from Coinbase Prime, an institutional-grade prime brokerage platform backed by Coinbase Global Inc.

The company's crypto portfolio now stands at nearly $71.79 billion, with IBIT holding a significant portion of its assets in Bitcoin, increasing its holdings to $62.29 billion.