BlackRock just bought $217 million of these two cryptocurrencies

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 now holds more than 700,000 BTC Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) purchased 1,388 BTC worth $164.3 million on the same day. This brought the total number of Bitcoin held under IBIT to 700,307 BTC, solidifying the fund’s position as the largest Bitcoin ETF by assets under management. Notably, IBIT’s trading volume also spiked on July 7, reaching $2.3 billion, indicating heightened investor participation as Bitcoin’s price continues to trade above $108,000. These acquisitions mark a key milestone: BlackRock now holds more than 700,000 BTC, underscoring the asset manager’s increasing conviction in Bitcoin’s long-term role as a macro hedge and institutional-grade asset. The post BlackRock just bought $217 million of these two cryptocurrencies appeared first on Finbold .

Source: Finbold