BlackRock just bought $217 million of these two cryptocurrencies
2025-07-08 11:31:54
Main Idea
BlackRock significantly increased its holdings in Bitcoin and Ethereum through its spot ETFs, acquiring over $217 million worth in a single day, further solidifying its position as a major institutional player in the crypto market.
Key Points
1. BlackRock's iShares Ethereum Trust (ETHA) purchased 20,955 ETH worth $53.2 million on July 7, bringing its total holdings to approximately 1.5% of the entire ETH supply.
2. BlackRock's iShares Bitcoin Trust (IBIT) bought 1,388 BTC worth $164.3 million, increasing its total BTC holdings to 700,307 BTC, making it the largest Bitcoin ETF by assets under management.
3. IBIT's trading volume surged to $2.3 billion on July 7, highlighting strong institutional interest in Bitcoin.
4. BlackRock's acquisitions underscore its growing role as a major institutional investor in crypto assets, treating them as macro hedges and institutional-grade assets.
Description
BlackRock , the world’s largest asset manager, continues to deepen its exposure to crypto assets, purchasing over $217 million in Bitcoin ( BTC ) and Ethereum ( ETH ) in a single day through its spot ETFs. According to market data, BlackRock’s iShares Ethereum Trust ( ETHA ) acquired 20,955 ETH, valued at $53.2 million on July 7. The move brings the fund’s total Ethereum holdings to approximately 1.5% of the entire ETH supply, achieved in less than 12 months since the fund’s launch. BlackRock no...
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