BlackRock Expands Its Cryptocurrency Holdings Significantly
According to Arkham, BlackRock purchased $2.6 billion worth of Bitcoin this week. This translates to over half a billion dollars in purchases daily. With a portfolio of $10 trillion in assets under management, BlackRock holds a powerful position in the cryptocurrency market
BlackRock, a significant player in the cryptocurrency market, has made substantial investments in Bitcoin and Ethereum in recent weeks. New data released by the blockchain analysis firm Arkham indicates that BlackRock is accelerating its accumulation of digital assets. These assets are, of course, being collected on behalf of clients for the company’s ETF products.
According to Arkham, BlackRock purchased $2.6 billion worth of Bitcoin this week. This translates to over half a billion dollars in purchases daily. With a portfolio of $10 trillion in assets under management, BlackRock holds a powerful position in the cryptocurrency market.
Not limiting itself to Bitcoin, BlackRock has also made significant investments in Ethereum. Arkham’s data reveals that BlackRock acquired $500 million worth of Ethereum last week, increasing its Ether holdings by 50% over the past 30 days.
