BlackRock Buys $3.16B in BTC and ETH
BlackRock has sharply increased its cryptocurrency purchases through its exchange-traded funds. According to Finbold, over eight consecutive days the asset manager acquired approximately 22,722 BTC worth around $2.2 billion through the iShares Bitcoin Trust (IBIT), alongside roughly 385,633 ETH worth about $961 million through the iShares Ethereum Trust (ETHA). Combined purchases reached approximately $3.16 billion. IBIT also recorded nine consecutive days of inflows between August 17 and August 27, attracting about $2.3 billion, while ETHA received around $1.02 billion over the same period. Finbold estimated BlackRock’s combined crypto portfolio at nearly $71.8 billion. The buying spree highlights strong institutional demand and makes ETF flows increasingly important for the direction of Bitcoin and Ethereum prices. For xbit.money users, these flows are an important indicator of market sentiment. Track BTC and ETH rates and exchange digital assets securely with xbit.money.