BlackRock Rotates Capital from Bitcoin to Ethereum, Boosting ETH Holdings
BlackRock's cryptocurrency portfolio has seen significant growth since early July, with its value increasing by over $3.7 billion.
Data from Arkham Intelligence reveals that the company's investors have been rotating capital from Bitcoin to Ethereum.
The iShares Bitcoin Trust ETF (IBIT) has recorded a decline of 3,710 BTC in holdings, down from 743,190 coins on July 1 to around 749,480 on August 6.
Meanwhile, the iShares Ethereum Trust ETF (ETHA) saw an increase of 196,340 Ethereum during the same period, taking its total holdings from 2.77 million on July 1 to approximately 2.97 million at press time.