Goldman Sachs, BlackRock, Abraxas Capital Boost Bitcoin and Ethereum Holdings with $1.65B Bitcoin ETFs and 185,309 ETH Purchases

Abraxas Capital has aggressively accumulated Ethereum (ETH), withdrawing 185,309 ETH valued at approximately $399 million from exchanges over three days amid a 44% price surge from $1,800 to $2,600. Meanwhile, major institutional investors are increasing their exposure to Bitcoin (BTC) and Ethereum. Goldman Sachs disclosed holding $1.65 billion in Bitcoin ETFs, becoming the largest holder of BlackRock’s Bitcoin ETF with over a $400 million increase in exposure during the first quarter. Goldman Sachs has also removed all Bitcoin ETF put options, signaling strong confidence. BlackRock has purchased substantial amounts of cryptocurrency, including 3,450 Bitcoin, bringing its total holdings to 625,000 BTC, and acquiring $356.2 million worth of Bitcoin and $17.6 million worth of Ethereum recently. BlackRock also stated that Bitcoin will soon be too risky not to own. Vanguard reported holding $7 billion in Bitcoin exposure. Collectively, BlackRock and Goldman Sachs control over 51% of all U.S. spot Bitcoin ETFs, with projections indicating they could hold 5% of the entire Bitcoin network by 2026. The market activity reflects growing institutional confidence and accumulation in both Bitcoin and Ethereum assets. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant