Crypto
BlackRock Loads Up on $1.5B Worth of Bitcoin and Ethereum
BlackRock has significantly increased its holdings of Bitcoin (BTC) and Ethereum (ETH), purchasing over $1.5 billion worth of both cryptocurrencies in just five days, according to data from SoSoValue.
The company's three cryptocurrency spot exchange-traded funds (ETFs), including iShares Bitcoin Trust (IBIT), iShares Ethereum Trust ETF (ETHA), and iShares Staked Ethereum Trust ETF (ETHB), collectively bought ETH and BTC worth $1.5104 billion between September 17 and 24, a period during which the crypto market capitalization surged by over $260 billion.
BlackRock's IBIT recorded a net cash inflow of $1.190 billion in just seven days, with its holdings of Bitcoin now totaling $67.25 billion at the time of writing.