BlackRock's Crypto Blitz Nets Over $3 Billion in Eight Days
BlackRock's crypto purchases have been substantial in recent weeks. The firm has acquired over $3.1 billion worth of Bitcoin and Ethereum, a significant increase in its cryptocurrency portfolio.
According to on-chain data from Arkham Intelligence, BlackRock's iShares Bitcoin Trust (IBIT) purchased 22,722 BTC valued at around $2.2 billion over the past eight days.
The same period saw BlackRock's iShares Ethereum Trust ETF (ETHA) accumulate 385,633 ETH worth roughly $961 million.
These purchases were made from Coinbase Prime, an institutional-grade prime brokerage platform backed by Coinbase Global Inc.
BlackRock's crypto portfolio is now valued at nearly $71.79 billion, with IBIT holding around $62.29 billion in Bitcoin and ETHA having about $8.63 billion in net assets.