BlackRock Sinks Over $800M into Bitcoin and Ethereum

Financial giant BlackRock has made significant investments in Bitcoin and Ethereum over the past 20 days, purchasing cryptocurrencies worth $843.78 million through its spot exchange-traded funds (ETFs). The company's iShares Bitcoin Trust (IBIT) has net-purchased Bitcoin worth $434.11 million between August 20 and September 16.

During this period, IBIT saw five days of cash inflows and eight days of outflows. At the time of writing, BlackRock held 782,623.424 BTC, valued at $59.28 billion.

The company's Ethereum ETF has also seen significant investments, with its iShares Staked Ethereum Trust ETF (ETHB) net-accumulating $186.7 million over the past 20 days, increasing its assets to 336,809.15 ETH, valued at $1.02 billion.